Hyundai Motor's 'Personnel Clock' Speeds Up Under Chung Eui-sun

Executive-level follow-up personnel changes expected as early as next month
President-level appointments anticipated by year-end
Attention on the whereabouts of 'MK Era' figures

[Asia Economy Reporter Su-yeon Woo] With the official inauguration of Chairman Chung Eui-sun, the personnel clock of Hyundai Motor Group is expected to accelerate. Inside and outside the group, it is anticipated that Chairman Chung will soon carry out executive-level follow-up personnel changes and reorganize the team with figures who will lead innovation in the 'Chung Eui-sun era.'

According to the business community on the 15th, Hyundai Motor Group is reportedly set to implement executive-level follow-up personnel changes as early as next month. Considering the personnel pattern when Chairman Chung was promoted to Group Chief Executive Vice Chairman in 2018, executive-level personnel changes are expected within a month, and by the end of the year, personnel changes including vice-chairman-level and president-level executives are anticipated.

Chairman Chung, who took office as Chief Executive Vice Chairman on September 14, 2018, carried out high-level personnel changes in the future car research and development (R&D) and design divisions around the end of October, about a month and a half later. In mid-November, the second month, he boldly restructured the Chinese business division, which was the most problematic area for Hyundai Motor Group at the time. He appointed President Lee Kwang-guk, a close aide of Chairman Chung, as head of the China business and began a full-scale improvement of the China business structure.

Afterwards, a large-scale executive-level personnel reshuffle was carried out in the overseas business division, and by the end of the year, through personnel changes including group vice chairmen, the intention for generational change was demonstrated. Vice chairmen who had worked closely with Honorary Chairman Chung Mong-koo (MK) stepped down from frontline management, and younger presidents in their 50s took the lead in management.

The business community expects that after Chairman Chung’s promotion this time, a large-scale reform personnel reshuffle aligned with the innovation code of the Chung Eui-sun era will be implemented. Among them, there is strong speculation that personnel changes related to quality and R&D will be prioritized as follow-up measures in response to recall incidents such as the GV80 and Kona EV.

Figures attracting attention in the Chung Eui-sun era include Presidents Lee Won-hee and Ha Eon-tae, who serve as co-CEOs of Hyundai Motor, President Kim Geol in charge of planning and coordination, President Gong Young-woon in charge of strategic planning, President Ji Young-jo in charge of strategic technology, and President Lee Kwang-guk, who oversees the China business. Albert Biermann, who became the first foreigner to be appointed as a registered executive of Hyundai Motor, is also considered a trusted figure of Chairman Chung.

The whereabouts of figures from the 'MK era' are also drawing attention. Currently, Hyundai Motor Group has four vice chairmen, including the owner family member Vice Chairman Chung Tae-young (Hyundai Card), Vice Chairman Yoon Yeo-cheol (Hyundai Motor), Vice Chairman Jung Jin-haeng (Hyundai Construction), and Vice Chairman Kim Yong-hwan (Hyundai Steel). Among them, Vice Chairman Yoon, who remains the last within Hyundai Motor, is in charge of labor-related affairs.

A business community official said, "With Chairman Chung’s inauguration, the 'one-man system' will become more solidified, and Chairman Chung is expected to surround himself with people who understand his vision well," adding, "With the generational change of the group head, the generational change of Hyundai Motor Group executives will also accelerate."

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