Chung Eui-sun, senior vice chairman of Hyundai Motor Group, took office as the group's chairman on Oct.14.
Hyundai Motor Co., Kia Motors Corp. and Hyundai Mobis held an extraordinary board meeting earlier in the day and reported on Chung's appointment as chairman. The board of directors of each company fully agreed and expressed their support, Hyundai Motor Group explained.
Chung Mong-koo, who has grown Hyundai Motor Group into the world's fifth-largest automotive group in just 10 years since its launch, has been named the group's honorary chairman.
Hyundai Motor Group’s heir apparent Chairman Chung Eui-sun is expected to continue and develop the achievements and management philosophy of honorary chairman Chung Mong-koo, while focusing on securing leadership that leads the future industrial ecosystem.
Hyundai Motor Group has made clear its commitment to open a new chapter in the future, with Chairman Chung Eui-sun at the center.
Based on the group's philosophy of overcoming uncertain business conditions such as COVID-19 and joining together for a better tomorrow for mankind, it plans to become a group with core technologies and capabilities for the future.
Chung became the group's de facto head two years and a month after he was promoted to the group's senior vice chairman in September 2018, and seven months after he became chairman of Hyundai Motor's board of directors in March this year.
Hyundai Motor Group will deliver a video message of its new chairman Chung to the company without a separate inauguration ceremony.
Born in 1970, Chung graduated from Whimoon High School and Korea University and studied at the San Francisco School of Management.
Starting with the head of Hyundai Motor's purchasing office and sales support division in 1999, he served as vice president of Hyundai and Kia Motors' planning headquarters, CEO of Kia Motors, president of Hyundai Motor Group's planning division, and president of Hyundai Mobis.
Hyundai Motor Group is expected to step up its move to become a state-of-the-art mobility solution provider, which will strengthen Chung's responsible management.
The group is also expected to see leadership in future markets such as electrification, self-driving and mobility services and continue to improve its overall structure throughout its business.