Chairman Chung Eui-sun's First Public Appearance: "I Will Transform the Organization into an Open Culture"

On the 15th, the 2nd Hydrogen Economy Committee Holds First External Activity Since Inauguration

Hyundai Motor Group Chairman Chung Eui-sun is arriving at the Government Seoul Office in Jongno-gu, Seoul, on the 15th by riding a hydrogen electric vehicle to attend the '2nd Hydrogen Economy Committee.' Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kim Ji-hee] Chung Eui-sun, Chairman of Hyundai Motor Group, who embarked on his first official activity since taking office, expressed his ambition to create an organizational culture that allows for more open work.

On the 15th, after attending the 2nd Hydrogen Economy Committee held at the Government Seoul Office in Jongno-gu, Chairman Chung told reporters, “It is important to transform Hyundai Motor Group into a culture where work can be done more openly in the future,” adding, “We will make sure that many good ideas are gathered.” Since his time as Vice Chairman, Chung has devoted efforts to improving organizational culture as part of efforts to build a structure suitable for new businesses.

When asked if he received any advice from his father, Chung Mong-koo, Honorary Chairman of Hyundai Motor Group, after his inauguration, Chung said, “He always emphasized quality and often told me to work diligently and healthily,” adding, “I think that is the advice he gave me.”

Notably, Chairman Chung chose the Hydrogen Economy Committee as his first external schedule after taking office, drawing attention. This move is seen as reflecting his strong will to realize a hydrogen society early. In his inauguration message the day before, Chung also emphasized the group’s vision to play a leading role in implementing the hydrogen economy.

Regarding the Hydrogen Economy Committee, Chung said, “The government is actively cooperating, and the committee members are coming up with many good ideas, leading to continuous in-depth discussions,” adding, “Although there are indeed many issues, I have a positive expectation that we can move faster and more competitively than other countries.”

However, when asked about resuming the work on governance restructuring, he briefly replied, “I am considering it.” In the business community, there is considerable speculation that the governance restructuring work, which was pursued in 2018 but halted, will resume with Chairman Chung’s inauguration.

Having risen as the undisputed leader within the group, Chairman Chung is expected to address major domestic issues following discussions with the government on building a hydrogen ecosystem. After being promoted to Vice Chairman in September 2018, Chung chose a business trip to the United States as his first external schedule. At that time, he held successive meetings with high-ranking officials from the U.S. administration and Congress, including Commerce Secretary Wilbur Ross, to prevent the imposition of high tariffs on Korean cars.

Meanwhile, prior to the meeting, Hyundai Motor Group signed an agreement with the government, local governments, and the energy industry to establish a Special Purpose Company (SPC) for the construction and operation of hydrogen charging stations for commercial vehicles. The signing ceremony was attended by Prime Minister Chung Sye-kyun, Minister of Trade, Industry and Energy Sung Yun-mo, Minister of Environment Cho Myung-rae, local government officials from various regions, and energy company representatives. Through this agreement linked to the 2nd Hydrogen Economy Committee, the SPC ‘Kohygen’ will be launched by February next year. Kohygen plans to install 10 gaseous hydrogen charging stations for commercial vehicles across the country by 2021 and add 25 liquefied hydrogen charging stations in 2023.

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