SM Bexel, the manufacturing arm of SM Group, is pursuing industry-academia collaboration to advance the automobile parts industry and promote mutual growth with local communities.
SM Bexel's automotive business division signed a memorandum of understanding (MOU) with Kongju National University for technology exchange and joint research and development (R&D) on eco-friendly automotive parts, the company said Friday. The signing ceremony was held the previous day at Kongju National University in South Chungcheong Province. SM Bexel Automotive Division CEO Yoo Byung-sun and Kongju National University Vice President Kim Song-ja, who heads the university's industry-academia cooperation foundation, attended the ceremony.
The agreement was pursued as part of SM Group Chairman Woo Oh-hyun's strategy for manufacturing innovation and shared growth. The MOU covers a broad range of cooperation areas, including development of eco-friendly automotive water pump technology, mutual exchange of human and material resources and information, and operation of educational programs to cultivate practice-oriented talent. SM Bexel's automotive business division previously signed an MOU with Soonchunhyang University in May last year for joint projects.
Building on this partnership, the company plans to concentrate its capabilities on developing water pump technology, one of the core components of future vehicles. Electric water pumps in particular are essential parts for vehicle efficiency and safety, as they provide cooling functions to dissipate heat generated during the operation of electric vehicles and other next-generation automobiles. The company aims to introduce water pumps with maximized cooling efficiency by combining its business expertise, R&D achievements, and mass production technology with synergies from the Kongju National University partnership.
"We will secure a competitive edge through differentiated and reliable quality despite the onslaught of low-cost Chinese products, and expand our business scope in the future automotive parts sector," CEO Yoo said. "Through this collaboration, we will enhance our technological completeness to respond to market changes, while contributing to the revitalization of the local economy and industry through steady exchanges."