Chairman Chung Eui-sun of Hyundai Motor Group, took office in October last year and declared a “game-changer” leap forward.
It is his promise to become the 'No. 1' that leads changes in the global automobile market.
His will is the core of Hyundai Motor's structural improvement. Having led the group since taking office as senior vice president in September 2018, Chung has led Hyundai Motor’s “V-shaped rebound” in performance and has also deployed customized talent for future mobility strategies.
In the 2010s, Chairman Chung took the lead in Hyundai Motor's management and heralded the emergence of a new era.
Most of the business leaders' families were reluctant to go directly to the forefront of management, but he traveled all over the country and abroad, saying that he would always find answers in the field.
A representative example is the small SUV (passenger multi-purpose vehicle) Kona announcement event held at KINTEX, Goyang City, Gyeonggi Province, in June 2017.
At that time, Chairman Chung wore jeans and a white T-shirt and drove the Kona himself and gave a presentation (PT).
Chairman Chung also improved the rigid military culture within the group as much as active field management.
At the time of his inauguration last year, Chairman Chung expressed his will to further promote the improvement of the group's constitution and the realization of a creative and open organizational culture based on horizontal communication and autonomy.
Chairman Chung promised, “We will create an organizational culture that emphasizes communication and autonomy so that the valuable capabilities of our employees are respected and fully demonstrated.”
In the first executive reshuffle after taking office last year, 30% of the newly promoted people were from new businesses and new technologies and R&D, laying the foundation for future mobility strategies.
Although the adjective ‘Hyundai Motor is a symbol of union strike’ is followed by the public, Chairman Chung is being evaluated for demonstrating clear ‘communication leadership’ by leading to no disputes in labor-management wage collective bargaining for three years in a row.
Chairman Chung also showed interest in robot technology because of the great synergy effect within the group.
Hyundai Motor to transform into a ‘comprehensive mobility company’
Chairman Chung declared that the Hyundai Motor Group will transform into a ‘comprehensive mobility company’ through the acquisition of Boston Dynamics, as Hyundai Motor Group has expressed its will to be reborn as a ‘company that makes all kinds of vehicles’.
The automobile industry believes that when autonomous driving and robots meet, a new concept of transportation such as a “walking taxi” can be created.
As the restrictions on movement are reduced, it can be easily used by the transportation vulnerable, and if used for logistics delivery, it can be used for last-mile delivery from the road to the door.
Hydrogen is the future
Chairman Chung attended the ‘Hydrogen Wave’ global online event on Oct. 7 as a keynote speaker and emphasized the vision of a future hydrogen society.
It has been made clear that the vision of Hyundai Motor Group is to use its products for ‘everyone, for everything, everywhere’.
Chairman Chung declared that 2040 will be the first year of the popularization of hydrogen energy.
“We want to achieve a hydrogen society by 2040,” he said. “To accelerate the realization of a hydrogen society, all new commercial models to be released will be only hydrogen electric vehicles or electric vehicles, and the hydrogen fuel cell system will be applied to all commercial vehicle lineups by 2028.”
He said, “We will introduce a hydrogen fuel cell system with reduced price and volume and greatly increased durability and output.”
It is the first time among global automakers to announce a comprehensive green conversion plan for commercial vehicles.
Hyundai Motor Group plans to accelerate its global expansion by entering the European mid-to-large commercial vehicle market with 400,000 units annually with hydrogen fuel cell commercial vehicles at the forefront.