Executive Vice Chairman Chung Eui-sun of Hyundai Motor Group, who was inaugurated to the position of Chairman of the group, proclaimed that he would create a virtuous cycle where every activity of the group contributes to lives, safety, and happiness of humanity and such activity leads back to development and driving force of the group during his inauguration.
His proclamation showed his determination to overcome the current business environment that looks uncertain due to COVID-19 and to build the group as a future mobility group that possesses core technologies and abilities based on the group’s philosophy of “Working Together to Build a Better Tomorrow for Humanity”.
Chairman Chung emphasized his determination to open new markets during his inauguration remark for entire executives and employees of the group and proposed the future direction of the group that is “humanity, future, and social contribution” with “customers” at the center.
His goal is to develop most innovative and reliable self-driving technologies in the world to provide safe and free movement for humanity and provide new mobility experiences to customers.
“In order to provide peaceful and healthy lives and environment for customers, we are going to lead the global “eco-friendly mobility” market that can be easily accessible for every customer.” said Chairman Chung.
He also emphasized new challenges and preparations during his remark. “We are going to utilize our world-class hydrogen fuel cells technology in various fields in addition to the automotive industry in order to establish it as an eco-friendly energy solution for the future of humanity.” said Chairman Chung. “We are also going to realize imaginations of the future such as robotics, urban air mobility (UAM), and smart city faster than other companies in order to provide better life experience for humanity.”
As a result, Hyundai Motor Group is expected to provide mobility solutions that are optimized for the lives of its customers and be active in expanding its influence on key fields such as autonomous driving, automation, and hydrogen fuel cell in addition to future markets such as robotics, UAM, and smart city.
The group is also expected to speed up the process of improving its constitution according to a rapid change in the paradigm of the global automotive industry and accelerate its preparations towards the COVID-19 crisis and an era of future cars.
Hyundai Motor Company, Kia Motors, and Hyundai Mobis each held a temporary board meeting and unanimously approved the inauguration of Executive Vice Chairman Chung as the new chairman of the group. As a result, Chairman Chung became the official head of the group after just two years and one month from promoting to the executive vice chairman position and seven months from becoming the chairman of the board of directors.
However, the fact that the appointment was pronounced officially this time indicates that the group will look to quickly overcome difficulties in management and secure solid foundation for future growth.
“It will be interesting to see how Chairman Chung responds to changes on humanity and structural changes in the automotive industry and secures leadership in future industries.” said a representative from the financial world in South Korea.
Meanwhile, it is reported that the inauguration was based on a wish made by Chung Mong-koo who became the new honorary chairman of the group. Honorary Chairman Chung, who was able to raise Hyundai Motor Company and Kia Motors to a fifth place in the global automotive industry, decided to step away from the group’s management after 20 years of standing on his own feet for the group.
Staff Reporter Park, Taejoon | gaius@etnews.com