GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Automobile

 
  Share
• Chairman Mong-Koo Chung inaugurated as Honorary Chairman of the Group
• Inauguration unanimously endorsed by board members of Hyundai Motor, Kia Motors and Hyundai Mobis 
• Euisun Chung has been recognized for successful leadership as Executive Vice Chairman of the Group over past two years
• Group's future direction will focus on 'customers,' 'humanity,' 'future' and 'social contribution'
…all activities must be customer-centric and enable customers to focus on lives
…contribute to humanity's dream of safe and free movement and a peaceful life
…realize a future of our imagination to offer a higher plane of life experiences
…become a company appreciated for sharing its fruits with customers
• Group will build a healthier corporate culture through employee empowerment and horizontal communication
• Euisun Chung to continue legacies of Founding Chairman Juyung Chung and Honorary Chairman Mong-Koo Chung 
 
Dubai , October 15, 2020 – Hyundai Motor Group (the 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.
 
Hyundai Motor Company, Kia Motors Corporation and Hyundai Mobis Co. each held extraordinary board meetings today to discuss the inauguration. All members of the boards unanimously endorsed the inauguration of Euisun 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 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.
 
'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 the Chairman. 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). 
 
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 hydrogen ecosystem, with 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,' said Chung. '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.'
 
In his remarks, he 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 a peaceful life, as well as sharing its fruits with customers around the world.'
 
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 channel 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 realized to the fullest.'
 
The Group will also streamline its decision-making processes to make them more timely and transparent, and strengthen communication with the market to boost shareholder value.
 
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.
 
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.
 
Honorary Chairman Chung is widely acknowledged for his contribution to the advancement of global auto industry, and he was inducted into the Automotive Hall of Fame in 2020.
 
He brought Kia Motors into the Group during the Asian financial crisis in the 1990s and turned the company into a successful global automaker. He also grew Hyundai and Kia into global automotive companies and advanced Korea as a leading nation in the automotive industry.
 
His key to the success of Hyundai Motor Group was making quality the number one priority. Honorary Chairman Chung established a standardized plant construction system to assure consistent high-quality production for Hyundai and Kia vehicles around the world, and built one of the world's largest research and development centers to strengthen the Group's competitiveness.
 
Honorary Chairman Chung also introduced a new paradigm in sustainable management with the construction of the integrated steel mill Hyundai Steel Co., which helped maximize synergy within the Group with the world's first resource circulation business structure.
 
Euisun Chung affirmed that he will continue and build upon the legacies of Founding Chairman Juyung Chung and Honorary Chairman Mong-Koo Chung. 
 
'Carrying on their legacies, I would like to usher in a bold new future of Hyundai Motor Group with every single one of you,' said Chairman Chung. 'There may be hurdles in our journey of entering a new future. But the spirit of Hyundai Motor Group has always made the impossible possible by encouraging optimism and team spirit.' 
 
■ Chairman Euisun Chung Profile 
 
Education 
BA, Korea University 
MBA, University of San Francisco
 
Experience
2018 Executive Vice Chairman, Hyundai Motor Group
2009 Vice Chairman, Hyundai Motor Company
2005 President, Kia Motors Corporation
2003 Head of Business Strategy Planning, Kia Motors Corporation
Executive Vice President, Business Planning Division at Hyundai Motor Company
2002 Senior Vice President, Domestic Sales Division at Hyundai Motor Company 
1999 Director, Procurement / Sales Support Division at Hyundai Motor Company



Posted by : GoDubai Editorial Team
Viewed 2079 times
Posted on : Thursday, October 15, 2020  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Maserati Multi 70 and Giovanni Soldini are Ready for the Rolex Middle Sea Race
Next Story : Lincoln Earns Top Spot in AutoPacific 2020 Vehicle Satisfaction Awards; Navigator Top Luxury SUV for...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Lockdown Showdown: Jaguar I-pace Etrophy Series to Get Back on Track in Berlin i...
Three Eggs get Yemeni National a Guinness World Records Title
Omega's Antimagnetic Tourbillon Is a Watchmaking Breakthrough
Lamborghini SCV12: Squadra Corse Hypercar Ready to Hit the Track
The new BMW M5 and BMW M5 Competition
Toric Tourbillon Slate
GROHE Smart Control Review
Twitter tests Tweeting with Voice
Saxo Bank Launches Loyalty Program for MENA Region Clients
Hyundai Motor and Sony Pictures Entertainment Announce Unique and Pioneering Mul...
American Aesthetic Medical Center Has Something in Store for the Esthetical Figu...
WTTC Launches Safe Travels Protocols for Attractions, Car Hire and Short-Term Rental
NUDESTIX Launches - Nudies Blush, Bronze, and Glow Shade Extension
Volvo Cars Chengdu Car Plant Powered by 100 Per Cent Renewable Electricity
Range Rover Marks 50 Years of All-terrain Innovation and Luxury With Exclusive N...
Under-12 and Over-60 Can Now Take Part in Sports Activities: Dubai Sports Council
Dabur Ensures Safety with Hand Sanitizers and Personal Protection Kits as UAE Es...
Let's Brigthen Up! The Face Shop's Ultimate Summer Skincare Range From Belif is Here!
Handy Helper for Content Creators: The Compact A6100 Mirrorless Camera from Sony...
Pre-orders for Samsung's Galaxy S20+ 5G and Galaxy Buds+ BTS Edition now open in...
Experts Highlight need for Young Talent to Develop Skills for a Post-Covid-19 World
Dabur Launches Pure Organic Coconut Oil: Natural Protection for Hair, Skin, and ...
GEMS Wellington Academy – Al Khail Improves Rating to 'Very Good' in KHDA DSIB 2...
Etihad Airways to Recommence Flights to Athens
Dubai Sees Pronounced Uptick in Demand for Retail Units
Book Building of Amlak International's IPO of 30% of Shares
Sanctuary for the Senses: All-New Lincoln Corsair Arrives with Whisper-Quiet, Co...
Essence Spring/Summer 2020 Collection
Registration Opens for Training On the Camel Trek and Camel Marathon for Expats
Covid-19 Leads UAE Businesses to Adopt Upgraded Green Building Solutions
Dubai Sports Council Discuss Upcoming Sports Events With Federations and Organisers
Dubai Sports Council to Celebrate Dubai's COVID-19 Heroes Through Commemorative ...
Turkish Airlines Was the Busiest Operator in the Eurocontrol Area After Restarti...
Celebrate Father's Day With Parmigiani Fleurier Tondagraph Slate'
INFINITI of Arabian Automobiles presents Dubai Islamic Bank customers Super Sale...
Crude Oil Headwinds on Virus and Technicals
Customers can Benefit from Increasing Gold Rate by just Paying 10% Advance at Ma...
Canadian University Dubai Receives Prestigious Certification in Education for Pu...
Report Reveals the Six Fintech Innovations That Will Boost the ‘Financial Health...
Serco Middle East Appoints New Managing Director for Dubai Metro and Dubai Tram
Big Bang Integral King Gold
Pan Emirates Unveils Exclusive New Collection
Digital Vision Technology Signals On-Track Success for Panasonic Jaguar Racing
Schneider Electric Extends Strategic Partnerships with AVEVA, Lenovo and Stratus...
Celebrate World Music Day with HONOR Magic Earbuds
The 11th Edition of the Arab Fashion Week to Launch Virtually Today, from June 2...
New Bentayga to Launch Beyond100
Cairo Amman Bank Adopts the Latest Technology to Enhance Performance and Securit...
Celebrate Summer Safely with the New, Shopping Normal at BurJuman
Registration open for Dubai Watersports Summer Week