Correct! Point for you
KAIST is the Korean Advanced Institute of Science and Technology.
"The Armadillo-T was conceived by a research team led by In-Soo Suh, associate professor of the Graduate School for Green Transportation at KAIST, to enable drivers to park in tight spots within dense urban environments. [...] When folded, the micro-car shrinks from 2.8 metres down to 1.65 metres. "Once folded, the small and lightweight electric vehicle takes up only one-third of a five metre parking space, the standard parking size in Korea," said Suh."