Chairman Jeong Eui-sun's First Executive Appointment Since Inauguration... Leadership Change in Future Car Sector (Comprehensive Report 2)

[Asia Economy Reporters Su-yeon Woo and Ji-hee Kim] Hyundai Motor Group conducted its first executive personnel reshuffle since Chairman Chung Eui-sun's inauguration on the 15th. Jang Jae-hoon was promoted and appointed as CEO of Hyundai Motor Company, along with the new appointment of CEOs for four affiliates. The group also empowered executives in future car businesses such as Urban Air Mobility (UAM), hydrogen fuel cells, electric vehicles, and robotics, signaling a strong commitment to strengthening new businesses.

About 30% of the newly promoted executives were from future car-related new businesses, new technologies, and research and development (R&D) sectors. The promotion of young talents in their 40s recognized for their performance and potential, as well as five female executives, also stood out. A Hyundai Motor Group official explained the background of this personnel reshuffle, stating, "Through the selection of leaders who combine expertise and leadership, we decided to strengthen the group's future business and new technology capabilities and accelerate innovation in an open organizational culture."

At the same time, with half of the group vice chairmen, including Kim Yong-hwan and Jung Jin-haeng, stepping down, and executives in their 50s newly appointed as CEOs to assist Chairman Chung, a generational shift to establish the 'Chung Eui-sun Chairman System (ES System)' has begun in earnest.

'ES System' Leads Major Personnel Deployment...Mass Appointment of CEOs in Their 50s

This personnel reshuffle, being the first since Chairman Chung's inauguration, was filled with individuals who understand and will lead his vision together.

First, Jang Jae-hoon, regarded as one of Chairman Chung's closest aides, was appointed as CEO of Hyundai Motor Company. Jang concurrently served as head of the Domestic Business Division, Genesis Division, and Management Support Division, achieving remarkable growth in the Domestic Business Division despite the impact of the COVID-19 pandemic this year. At the same time, his abilities were recognized for successfully implementing organizational culture innovations such as relaxed dress codes, flexible working hours, and town hall meetings, leading to his appointment as co-CEO.

Among the promoted executives, Cho Sung-hwan, President of Hyundai Mobis, was also appointed as a CEO in his 50s alongside Jang. Based on his experience and expertise as Vice President of Hyundai-Kia R&D Headquarters, Cho is expected to strengthen Hyundai Mobis's future new technologies, new businesses, and competitiveness. Yoon Young-jun, the newly appointed President of Hyundai Construction, was promoted for his achievements in upgrading the housing business brand and securing major large-scale contracts. Jung Jae-wook, the new President of Hyundai Wia, is a parts development expert with over 30 years of experience in Hyundai Motor, Kia Motors, and Hyundai Mobis, and will lead the restructuring of Hyundai Wia's business portfolio and enhancement of competitiveness, including core electrification components.

Future Cars, 40s, and Female Executives Also Make Strides

Hyundai Motor Company emphasized expanding new businesses by appointing many young talents to lead the future car sector in this reshuffle. First, Shin Jae-won, who oversees the UAM business, was promoted to president, and Kim Se-hoon, who leads hydrogen fuel cell development, was promoted to vice president.

Shin, a former NASA engineer, was personally recruited by Chairman Chung, who envisioned expanding the UAM business. By empowering Shin to realize Hyundai Motor Group's 2028 goal for UAM commercialization, it is expected that the vision for future mobility will accelerate. Kim Se-hoon, head of the Fuel Cell Business Division and a key figure in one of Hyundai Motor Group's three major business structures?the hydrogen fuel business?was also promoted to vice president.

Additionally, Lee Kyu-oh, Executive Vice President in charge of product integration development at Hyundai-Kia who developed the dedicated electric vehicle platform E-GMP, was promoted to vice president. In the robotics field, where Hyundai Motor Group recently made a large-scale global acquisition, Hyun Dong-jin, head of the Robotics Lab, was newly appointed as an executive, securing leadership for future car development.

Executives in their early to mid-40s recognized for high performance and potential were also appointed. Shin Sung-woo, head of Hyundai-Kia CVC team; Yoon Gu-won, head of Hyundai Motor Management Analysis team; Kim Taek-gyun, head of Kia Motors Exterior Design office; Lee Sang-bong, head of Hyundai Capital Data Science office; and Lee Hyung-min, head of Hyundai Construction Domestic Legal Affairs, were promoted to managing directors.

Furthermore, five female executives were newly appointed, including Kim Joo-mi, manager of Hyundai Motor Brand Communication Team 1; Heo Hyun-sook, manager of Kia Motors North America Regional Management Support Team; Park Min-sook, senior manager of Hyundai Commercial CDF office; Choi Moon-jung, manager of Hyundai Construction Plant Sales Planning Team; and Park In-joo, manager and site director of Hyundai Construction Ilwon Daewoo Reconstruction project.

'MK Era' Old Boys Step Down...Generational Shift Accelerates

Meanwhile, with two of the four group vice chairmen, known as old boys of Hyundai Motor Group, stepping down, a full-scale generational shift has taken place. Kim Yong-hwan, Vice Chairman of Hyundai Steel, and Jung Jin-haeng, Vice Chairman of Hyundai Construction, who had led Hyundai Motor alongside Honorary Chairman Chung Mong-koo since the early 2000s, have stepped down from frontline management.

Kim, known as the 'Man of MK,' was Honorary Chairman Chung's closest aide, having served as Vice Chairman in charge of Hyundai Motor's Planning and Coordination Office and Secretariat. Jung Jin-haeng previously served as President of Hyundai Motor's Strategic Planning and recently led the establishment of the Global Business Center (GBC), a long-cherished project of Honorary Chairman Chung. Within affiliates, Kim Kyung-bae, President of Hyundai Wia; Park Dong-wook, President of Hyundai Construction; and Seo Bo-shin, President in charge of Production Quality at Hyundai Motor, also stepped down from frontline management and were appointed as advisors.

Previously, when Chairman Chung was appointed Chief Vice Chairman in 2018, he moved or appointed as advisors the vice chairmen who had closely assisted Honorary Chairman Chung. Woo Yu-cheol, Vice Chairman of Hyundai Rotem, retired last year, and with the recent departure of Vice Chairmen Kim Yong-hwan and Jung Jin-haeng, the only remaining figure from the MK era is Yoon Yeo-cheol, Vice Chairman in charge of labor affairs at Hyundai Motor. Owner family member Jung Tae-young, Vice Chairman, also remains in position.

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