Seoul, Hyundai Motor Group said Tuesday it has signed an initial pact with a Saudi Arabian foundation for cooperation in a smart city project.

The South Korean automotive group and Misk Foundation signed a memorandum of understanding (MoU) for a partnership in a Saudi Arabian smart city project and to help develop education programmes for local youths, the company said in a statement, Yonhap News Agency reported.

Under the MoU, Hyundai and the Misk Foundation plan to closely cooperate to explore business opportunities in Mohammed Bin Salman Nonprofit City which is currently under construction in Riyadh, the statement said.

Source: Bahrain News Agency