'Pro-Business Moves' Jeong Sye-gyun to Chung Eui-sun: "Timely Vaccination for Businesspeople, No Disruption to Overseas Operations"

Prime Minister Jeong Sye-gyun Visits Hyundai Motor and Kia Namyang Technology Research Center... Meeting with Chairman Chung Eui-sun
In-depth Discussion on Industry Issues Including Eco-friendly Mobility and Parts Ecosystem

Prime Minister Chung Sye-kyun and Hyundai Motor Group Chairman Chung Eui-sun, along with other attendees, visited Hyundai Motor Namyang Technology Research Center in Hwaseong, Gyeonggi Province on the morning of the 18th to receive an explanation about electric vehicles. Photo by Kang Jin-hyung, Hwaseong aymsdream@

[Asia Economy Reporter Kim Hyewon] "We will ensure that businesspeople can receive COVID-19 vaccinations in a timely manner so that their overseas business activities are not disrupted."

Prime Minister Chung Sye-kyun promised Hyundai Motor Group Chairman Chung Eui-sun that businesspeople would receive timely vaccinations. This statement came during a lunch meeting between Prime Minister Chung and Chairman Chung on the 18th at Hyundai Motor and Kia Namyang Technology Research Center in Hwaseong, Gyeonggi Province.

On that day, Prime Minister Chung test-drove Hyundai’s next-generation electric vehicle Ioniq 5, which is scheduled for its world premiere on the 23rd, together with Chairman Chung. He also toured various new future car platforms and presided over a government policy review meeting at the industrial site. After driving the Ioniq 5 himself, Prime Minister Chung praised it, saying, "The interior is spacious and comfortable, and it is easy to drive." Chairman Chung responded, "Once you ride an electric vehicle, it is said that it is hard to go back to internal combustion engine cars," creating a warm and friendly atmosphere, according to multiple officials present at the scene.

According to a summary of the coverage on the 19th, the meeting between Prime Minister Chung and Chairman Chung involved in-depth exchanges of opinions on various current issues, including not only COVID-19 vaccines but also carbon neutrality, which has emerged as a hot topic in the industry, energy mix, preemptive investments such as research and development (R&D) to secure future technologies, and the transition of the eco-friendly future mobility parts ecosystem, including electric and hydrogen electric vehicles.

Prime Minister Chung Sye-kyun and Hyundai Motor Group Chairman Chung Eui-sun are attending the business agreement ceremony for the electric taxi battery rental and used battery utilization demonstration project held on the 18th at Hyundai Motor Namyang Technology Research Center in Hwaseong, Gyeonggi Province. / Hwaseong - Photo by Kang Jin-hyung aymsdream@

First, regarding the priority vaccination for COVID-19 for overseas business activities, which is strongly demanded by the business community, Prime Minister Chung explained that "only businesspeople who have demand for overseas business trips will be able to receive vaccinations in a timely manner after transparent application and approval procedures." Regarding concerns about vaccine side effects, he dismissed them by saying, "As vaccine distribution accelerates in the United States and mask-wearing becomes widespread, the number of infections is decreasing. Vaccines have been verified abroad, and side effects are expected to be minimal."

Prime Minister Chung cited specific examples from his time as Minister of Trade, Industry and Energy (then Ministry of Commerce, Industry and Energy) in 2006-2007, when the government proactively engaged in future technology demonstration projects. He urged Chairman Chung to make bold investments from a long-term perspective as a businessperson. At the same time, he instructed Ahn Il-hwan, the 2nd Vice Minister of the Ministry of Economy and Finance, who was present, to "actively support with government budgets to ensure that companies developing eco-friendly vehicles and parts suppliers transitioning to a new ecosystem do not face setbacks," emphasizing the need for government backing on site.

Chairman Chung reportedly raised his voice particularly on the need to help not only finished car manufacturers but also partner parts suppliers systematically transition to the future car era, including electric and hydrogen electric vehicles, while preserving the current industrial ecosystem. This was based on the judgment that balanced development of internal combustion engine vehicles and electric vehicles is important to smoothly maintain the parts ecosystem. There was also a view expressed that, considering the entire production cycle of electric vehicles, carbon dioxide emissions are not insignificant, so there are many points to consider from the perspective of energy mix development.

There was also a consensus that the public and private sectors need to work together to address vulnerabilities such as high dependence on overseas countries like China and Congo for rare earths and battery raw materials. Several alternatives, including the development of solid-state batteries, were reportedly discussed. Prime Minister Chung and Chairman Chung also agreed that the three minor finished car manufacturers?Korea GM, Renault Samsung, and Ssangyong Motor?should maintain competitiveness and continue to compete in the market without being eliminated, so that the automobile industry can develop jointly, excluding Hyundai Motor and Kia.

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