Chung named chairman of Hyundai Motor Group

Published 8:15 am Thursday, October 15, 2020

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Hyundai Motor Group (the Group) announced on Wednesday that Euisun Chung, who was recently the Executive Vice Chairman, was inaugurated to the position of Chairman of the Group, according to a press release from Hyundai Motor Group.

Hyundai Motor Company, Kia Motors Corporation and Hyundai Mobis Co. each held board meetings to discuss the inauguration. All members of the boards unanimously endorsed the inauguration of Chung as the new Chairman of the Group.

Hyundai Motor Group will open a new chapter in its history under Euisun Chung’s leadership. Embracing the vision ‘Together for a Better Future,’ the group said it will develop and acquire key technologies and capabilities to overcome market uncertainties, including COVID-19.

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In his inauguration remarks, Chung presented the future direction of the group as one focused on customers, humanity, future and social contribution.

“All of our goals and efforts must be customer-centric. The first step to customer happiness is to enable them to focus on their own lives through perfect quality of our products and services,” Chung said in a press release.

Over the years, Chung has stressed the customer-centric approach and customer satisfaction and applied the concept more broadly to all of humanity.

“For the free movement and prosperity of humanity, we will develop the world’s most innovative and reliable autonomous driving technology, offering entirely new mobility experiences,” Chuns said.

Chung is spearheading the group’s transformation from an automaker into a future mobility solution provider.

The group will offer mobility solutions tailored to customer lifestyles and continue to grow its market leadership in various fields, including autonomous driving, electrification, hydrogen fuel cell, robotics and Urban Air Mobility (UAM).

Chung foresaw the powerful possibilities of hydrogen energy and championed the growth of a hydrogen ecosystem, with the broad implementation of fuel cell technology beyond automobiles.

“Our world-class hydrogen fuel cell technology will be used not only in automobiles but also in various fields, as an eco-friendly energy solution for the future of humanity,” Chung said, “We will also realize the future of our imagination through robotics, Urban Air Mobility (UAM), smart city and other innovations. These groundbreaking advancements will offer a higher plane of life experiences for humanity.”

Chung also stressed the importance of social contribution to the communities in which the group operates, reflecting on his long-time commitment to communities and the future generation.

“Hyundai Motor Group aims to become a company cherished for realizing humanity’s dream of safe and free movement and peaceful life, as well as sharing its fruits with customers around the world,” Chung said.

The group’s transformation under Chung is also taking place internally, with an emphasis on flexibility and agility like that of tech companies. Under his leadership, the group is accelerating its efforts toward a healthier corporate culture by empowering its employees and encouraging horizontal communication.

“If each and every employee thinks of oneself as a pioneer and channels that positive energy into our growth and that of our future generations, I am certain we will seize fresh opportunities out of crises,” Chung said. “I will foster a company culture that respects communication and autonomy. I will help cultivate a creative work environment, where talents are respected and realized to the fullest.”

Chung has been recognized for his innovative vision and for leading the group’s key businesses successfully over the past two years as the Executive Vice Chairman.

He steered the turnaround of Kia Motors’ business during his tenure as president, and led the growth of Hyundai Motor amid the global financial crisis and successfully launched the luxury brand Genesis as vice-chairman.

Chung was the president of Kia Motors Corporation from 2005 to 2009.