Hyundai Motor Group has announced that Euisun Chung, executive vice chairman, is the new chairman of the group. Prior chairman Mong-Koo Chung, who was inducted into the Automotive Hall of Fame in 2020, was made honorary chairman.

Chung has been recognised for his innovative vision and for leading the group‘s key businesses successfully over the past two years as the executive vice chairman. He led the growth of Hyundai Motor Group amid the global financial crisis and successfully launched the group‘s luxury brand Genesis.

Under Chung‘s leadership the group will embrace the vision ‘Together for a Better Future‘ and develop and acquire key technologies and capabilities to overcome market uncertainties, including Covid-19.

“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 Chung.

“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, who is spearheading the group‘s transformation from an automaker into a future mobility solution provider.

“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,” he said. “We will also realise 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 realising 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 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.”

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.