Hyundai Motor Group appoints Euisun Chung as new Chairman
Hyundai Motor Group announced that Euisun Chung, Executive Vice Chairman, was inaugurated to the position of Chairman of the Group. Chairman Mong-Koo Chung was inaugurated to the position of Honorary Chairman. Mong-Koo Chung, new Honorary Chairman of the Group, recently expressed his wish to move on and asked Euisun Chung to lead the Group's future growth and innovation beyond the current challenges.
Hyundai Motor Group plans to open a new chapter in its history under Euisun Chung’s leadership. Embracing the vision ‘Together for a Better Future,’ the Group will develop and acquire key technologies and capabilities to overcome market uncertainties, including COVID-19.
In his inauguration remarks, Euisun 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," said the newly inaugurated Chairman Chung.
Over the years, Chung has stressed the customer-centric approach and customer satisfaction and applied the concept more broadly to all of humanity.
The Group recently formed a venture Motional Inc. with Aptiv to develop and deploy industry-leading full autonomous driving technology. It is collaborating with partners around the globe to provide mobility services that meet the varying needs of different regions.
Furthermore, Chung foresaw the powerful possibilities of hydrogen energy and championed the growth of the hydrogen ecosystem, with the broad implementation of fuel cell technology beyond automobiles.
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.
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.