• Chairman Mong-Koo Chung inaugurated as Honorary Chairman of the Group
  • Inauguration unanimously endorsed by board members of Hyundai Motor, Kia Motors and Hyundai Mobis
  • Euisun Chung has been acknowledged for profitable management as Government Vice Chairman of the Group over previous two years
  • Group’s future route will give attention to ‘clients,’ ‘humanity,’ ‘future’ and ‘social contribution’

…all actions have to be customer-centric and allow clients to give attention to lives

…contribute to humanity’s dream of protected and free motion and a peaceable life

…understand a way forward for our creativeness to supply a better aircraft of life experiences

…change into an organization appreciated for sharing its fruits with clients

  • Group will construct a more healthy company tradition via worker empowerment and horizontal communication
  • Euisun Chung to proceed legacies of Founding Chairman Juyung Chung and Honorary Chairman Mong-Koo Chung  

SEOUL, October 14, 2020 – Hyundai Motor Group (the Group) introduced right this moment that Euisun Chung, Government Vice Chairman, was inaugurated to the place of Chairman of the Group. Chairman Mong-Koo Chung was inaugurated to the place of Honorary Chairman.

Hyundai Motor Firm, Kia Motors Company and Hyundai Mobis Co. every held extraordinary board conferences right this moment to debate the inauguration. All members of the boards unanimously endorsed the inauguration of Euisun Chung as the brand new Chairman of the Group.

Hyundai Motor Group will open a brand new chapter in its historical past underneath Euisun Chung’s management. Embracing the imaginative and prescient ‘Collectively for a Higher Future,’ the Group will develop and purchase key applied sciences and capabilities to beat market uncertainties, together with COVID-19.

In his inauguration remarks, Euisun Chung introduced the longer term route of the Group as one targeted on ‘clients,’ ‘humanity,’ ‘future,’ and ‘social contribution.’

“All of our targets and efforts have to be customer-centric. Step one to buyer happiness is to allow them to give attention to their very own lives via good high quality of our services and products,” mentioned the newly inaugurated Chairman Chung.

Over time, Chung has confused the customer-centric strategy and buyer satisfaction, and utilized the idea extra broadly to all of humanity.

“For the free motion and prosperity of humanity, we are going to develop the world’s most progressive and dependable autonomous driving know-how, providing solely new mobility experiences,” mentioned the Chairman. Chung is spearheading the Group’s transformation from an automaker right into a future mobility answer supplier.

The Group will provide mobility options tailor-made to buyer existence and proceed to develop its market management in numerous fields, together with autonomous driving, electrification, hydrogen gasoline cell, robotics and City Air Mobility (UAM).

The Group not too long ago shaped a enterprise Motional Inc. with Aptiv to develop and deploy industry-leading full autonomous driving know-how. It’s collaborating with companions across the globe to supply mobility providers that meet the various wants of various areas.

Moreover, Chung foresaw the highly effective prospects of hydrogen vitality and championed the expansion of hydrogen ecosystem, with broad implementation of gasoline cell know-how past cars.

“Our world-class hydrogen gasoline cell know-how will likely be used not solely in cars, but in addition in numerous fields, as an eco-friendly vitality answer for the way forward for humanity,” mentioned Chung. “We may also understand the way forward for our creativeness via Robotics, City Air Mobility (UAM), Sensible Metropolis and different improvements. These groundbreaking developments will provide a better aircraft of life experiences for humanity.”

In his remarks, he additionally confused the significance of social contribution to the communities wherein the Group operates, reflecting on his long-time dedication to communities and the longer term era.

“Hyundai Motor Group goals to change into an organization cherished for realizing humanity’s dream of protected and free motion and a peaceable life, in addition to sharing its fruits with clients world wide.”

The Group’s transformation underneath Chung can also be going down internally, with an emphasis on flexibility and agility like that of tech firms. Underneath his management, the Group is accelerating its efforts towards a more healthy company tradition by empowering its staff and inspiring horizontal communication.

“If every worker thinks of oneself as a pioneer, and channel that optimistic vitality into our development and that of our future generations, I’m sure we are going to seize contemporary alternatives out of crises,” mentioned Chung. “I’ll foster an organization tradition that respects communication and autonomy. I’ll assist domesticate a inventive work atmosphere, the place abilities are revered and realized to the fullest.”

The Group may also streamline its decision-making processes to make them extra well timed and clear, and strengthen communication with the market to spice up shareholder worth.

Chung has been acknowledged for his progressive imaginative and prescient and for main the Group’s key companies efficiently over the previous two years because the Government Vice Chairman.

He steered the turnaround of Kia Motors’ enterprise throughout his tenure as President, and led the expansion of Hyundai Motor amid the worldwide monetary disaster and efficiently launched the posh model Genesis as Vice Chairman.

Mong-Koo Chung, new Honorary Chairman of the Group, not too long ago expressed his want to transfer on and requested Euisun Chung to guide the Group’s future development and innovation past the present challenges.

Honorary Chairman Chung is extensively acknowledged for his contribution to the development of world auto {industry}, and he was inducted into the Automotive Corridor of Fame in 2020.

He introduced Kia Motors into the Group through the Asian monetary disaster within the 1990s and turned the corporate right into a profitable world automaker. He additionally grew Hyundai and Kia into world automotive firms and superior Korea as a number one nation within the automotive {industry}.

His key to the success of Hyundai Motor Group was making high quality the primary precedence. Honorary Chairman Chung established a standardized plant development system to guarantee constant high-quality manufacturing for Hyundai and Kia automobiles world wide, and constructed one of many world’s largest analysis and improvement facilities to strengthen the Group’s competitiveness.

Honorary Chairman Chung additionally launched a brand new paradigm in sustainable administration with the development of the built-in metal mill Hyundai Metal Co., which helped maximize synergy throughout the Group with the world’s first useful resource circulation enterprise construction.

Euisun Chung affirmed that he’ll proceed and construct upon the legacies of Founding Chairman Juyung Chung and Honorary Chairman Mong-Koo Chung.

“Carrying on their legacies, I want to usher in a daring new way forward for Hyundai Motor Group with each single one in all you,” mentioned Chairman Chung. “There could also be hurdles in our journey of getting into a brand new future. However the spirit of Hyundai Motor Group has all the time made the unattainable attainable by encouraging optimism and crew spirit.”

Chairman Euisun Chung Profile

Training

BA, Korea College

MBA, College of San Francisco

Expertise
2018 Government Vice Chairman, Hyundai Motor Group
2009 Vice Chairman, Hyundai Motor Firm
2005 President, Kia Motors Company
2003 Head of Enterprise Technique Planning, Kia Motors Company
          Government Vice President, Enterprise Planning Division at Hyundai Motor Firm
2002 Senior Vice President, Home Gross sales Division at Hyundai Motor Firm
1999 Director, Procurement / Gross sales Help Division at Hyundai Motor Firm

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About Hyundai Motor Group

Hyundai Motor Group is a worldwide company that has created a worth chain primarily based on cars, metal, and development and consists of logistics, finance, IT and repair. With about 250,000 staff worldwide, the Group’s car manufacturers embrace Hyundai Motor Co. and Kia Motors Corp and Genesis. Armed with inventive considering, cooperative communication and the desire to tackle all challenges, we’re working to create a greater future for all.

Extra details about Hyundai Motor Group, please see: www.hyundaimotorgroup.com

Contact:

Jin Cha
World PR Crew / Hyundai Motor Group

[email protected]

+82 2 3464 2128

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