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Hyundai Motor hires former GM researcher to lead self-driving car centre

The logo of Hyundai Motor is seen on a steering wheel at its dealership in Seoul, South Korea, December 15, 2016. Picture taken December 15, 2016. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - Hyundai Motor Group has hired a former General Motors (GM.N) researcher to oversee its centre to develop fully autonomous vehicles, joining other automakers and Silicon Valley giants in accelerating efforts on the fast-growing technology.

Lee Jin-woo, 47, who has previously led autonomous driving technology development at General Motors (GM) for more than a decade, will head the newly established Intelligent Safety Technology Center - a combined research body for Hyundai Motor and its affiliate Kia Motors - starting on Monday.

"The new centre will not only enhance existing Advanced Drive Assistance System technologies but also conduct research into artificial intelligence related self-driving car technologies with the aim of commercializing those technologies," Hyundai Motor said in a statement on Monday.

Hyundai Motor and Kia, together the world's fifth-largest automaker, aim to develop highly automated vehicles by 2020 and fully autonomous vehicles by 2030.

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However, experts say Hyundai needs to do more to catch up with rivals in the self-driving car race.

Last week, Ford Motor Co (F.N) announced plans to invest $1 billion over the next five years in autonomous vehicle tech firm Argo AI, while GM made a billion-dollar bet a year ago with its acquisition of Silicon Valley self-driving startup Cruise Automation.

"Bringing in one person is not enough. Hyundai should form alliances with other companies, which will help hedge financial risks related to developing self-driving cars at a time of falling profit," said Lee Hang-koo, a senior research fellow at Korea Institute for Industrial Economics & Trade.

"But this requires commitment from the top management."

Hyundai Motor, which has typically promoted executives from within, has hired a series of executives from overseas, mostly in the design and engineering field.

Lee earned a post doctorate at Cornell University, after studying at South Korea's KAIST and Seoul National University.

(Reporting by Hyunjoo Jin; Editing by Himani Sarkar)