At the Czech-Korean Business Forum in Prague, Škoda Group and Hyundai Rotem solidified their partnership by signing a Memorandum of Understanding on September 20, 2024. The agreement outlines joint strategic projects and participation in major international infrastructure initiatives. A key focus area of this collaboration is the development of projects that involve technology transfer, localization of production, and the implementation of advanced solutions in hydrogen fuel cells and alternative energy. The goal is to create environmentally friendly transport solutions that can reduce the carbon footprint and enhance energy efficiency. This partnership builds on past successes, such as Škoda Transportation supplying electrical equipment to Hyundai Rotem for Tanzanian railways back in 2021. With over 10,000 employees across facilities in the Czech Republic, Finland, and Turkey, Škoda Group is a key player in the transport industry. Their sales growth of 81% in 2023, reaching €1.38 billion, demonstrates the company's rapid development and expansion in European markets. The collaboration with Hyundai Rotem underlines a shared commitment to innovation, sustainability, and growth in the railway industry, paving the way for future advancements in green transportation.