[Jeong Eui-seon Era Launch] Chung Mong-gu, Who Raised Hyundai to 5th in the World... The 'Quality Management' Legend

Chung Mong-koo, Chairman of Hyundai Motor Group, is visiting the Slovakia plant in August 2016 to inspect the local production line.

Raising a Global Leading Automaker Selling Over 7 Million Units Annually

[Asia Economy Reporter Kiho Sung] Chung Mong-koo, Chairman of Hyundai Motor Group who elevated the Korean automobile industry to a global level, stepped down on the 14th, handing over the group leadership to his son. It has been 20 years since he became chairman of Hyundai Motor Group in 2000. On the same day, Chung was appointed Honorary Chairman. As the leader who spearheaded the birth of Hyundai’s first four-wheel-drive sport utility vehicle (SUV), the Galloper, he expanded the business scope from automobile development to sales. He is regarded as a pioneering figure who grew Hyundai Motor Group into a global top 5 automaker through the acquisition of Kia Motors.

According to Hyundai Motor Group, Honorary Chairman Chung recently entrusted the chairman position to the new chairman, Chung Eui-sun, urging him to overcome the economic crisis and lead future innovation, with the family sharing the same intention. It is known that Honorary Chairman Chung firmly believed that a responsible management system is urgently needed in light of the rapidly changing global business environment due to the COVID-19 pandemic and the paradigm shift toward the future car era.

Honorary Chairman Chung was born in 1938 in Gangwon Province as the second son of Chung Ju-yung, Honorary Chairman of Hyundai Group. After graduating from Hanyang University with a degree in Industrial Management in 1967, he went to the United States and took business administration courses for two years at the University of Connecticut.

He joined Hyundai Group in 1970 as the head of parts at Hyundai Motor Seoul Branch, later serving as director of Hyundai Motor Seoul Branch, and CEO of Hyundai Motor Service, Hyundai Precision & Industries, and Hyundai Steel Pipe. The period when Honorary Chairman Chung began to be recognized for his management capabilities was when he concurrently held CEO positions at Hyundai Motor Service, Hyundai Precision & Industries, and Hyundai Steel Pipe. Hyundai Precision & Industries succeeded in securing a leading position by capturing 40% of the global container market. Additionally, Hyundai Motor Service added "automobile manufacturing and sales" to its business objectives in 1982 and successfully developed and sold the SUV Galloper in 1991, creating a success story in the automobile industry.

His management capabilities are also confirmed by results. In September 2000, Hyundai Motor Group, which consisted of 10 affiliates including Hyundai Motor and had assets of just 34.04 trillion KRW, transformed into a group with 54 affiliates and total assets of 234.706 trillion KRW as of the end of last year. Core companies Hyundai Motor and Kia Motors have production facilities in 10 countries worldwide and have established themselves as global leading automakers selling over 7 million units annually.

"Quality management" is his representative management philosophy. Honorary Chairman Chung established a standard factory construction system capable of building uniformly high-quality production plants worldwide in a timely manner, and practiced on-site management by traveling globally to identify and solve problems at production sites.

Recognizing these achievements, Honorary Chairman Chung was selected this year as an inductee to the prestigious "Automotive Hall of Fame." The Automotive Hall of Fame stated, "Honorary Chairman Chung is an industry leader who brought Hyundai Motor Group to the ranks of success," and "His numerous achievements, including the successful revival of Kia Motors, expansion of global production bases, and establishment of a high-efficiency business structure, stand shoulder to shoulder with legendary figures in the automotive industry."

Honorary Chairman Chung has been receiving treatment in a hospital for three months since being admitted in July due to diverticulitis and other conditions. It is reported that his condition has somewhat improved.

This content was produced with the assistance of AI translation services.