Hyundai Motor Group has announced that Euisun Chung, Executive Vice Chairman, was promoted to the position of Chairman, while current Chairman Mong-Koo Chung will become Honorary Chairman.
Hyundai said that it will “open a new chapter in its history under Euisun Chung’s leadership” as Chairman, developing and acquiring key technologies and capabilities to overcome market uncertainties, including COVID-19.
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,” said Chung. “The first step to customer happiness is to enable them to focus on their own lives through [the] perfect quality of our products and services.”
Hyundai said that over the years, Chung has stressed the customer-centric approach along with customer satisfaction, applying 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,” said Chung.
According to Hyundai, Chung is spearheading the Group’s transformation from an automaker into a future mobility solution provider. The company says it 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).
Hyundai’s transformation under Chung is also taking place internally, with an emphasis on flexibility and agility like that of technology companies. According to the company, under Chung’s leadership it is accelerating 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,” said Chung. “I will foster a company culture that respects communication and autonomy. I will help cultivate a creative work environment, where talents are respected and realised to the fullest.”
According to Hyundai, Chung has been recognised for his vision and for leading the Group’s key businesses successfully over the past two years as Executive Vice Chairman, citing the turnaround of Kia Motors’ business during his tenure as President there, along with leading the growth of Hyundai Motor amid the global financial crisis and launching the Genesis luxury brand as Vice Chairman.