'Change and Innovation' Focus in Hyundai Motor Group Executive Personnel Changes...Mass Promotion of Executives in New Business Areas

Advancements in Future Growth Sectors like Infotainment, ICT, and Autonomous Driving
One-Third in Their 40s, 37% in R&D... Accelerating Innovation Speed
Promotion of India and Russia Regional Heads Achieving Results Amid COVID-19 and Semiconductor Crisis
Jung Eui-sun Strengthens Direct Control System to "Enhance Mobility and Dynamism"

[Asia Economy Reporter Yoo Je-hoon] The core of this executive reshuffle, the second since Chairman Chung Eui-sun took office at Hyundai Motor Group, can be summarized as "change and innovation." Among the largest number of promoted executives in history, one-third are in their 40s, recognized for their performance and capabilities. Notably, a large number of executives in new business areas related to future mobility, such as infotainment, ICT, and autonomous driving, were promoted or newly recruited.

With the retirement of Vice Chairman Yoon Yeo-cheol, known as the right-hand man of Honorary Chairman Chung Mong-koo, the generational shift has been completed, further strengthening Chairman Chung's direct and close control system to lead innovation. A Hyundai Motor Group official stated, "This reshuffle presents a direction of change and innovation aimed at rapid business portfolio transformation and enhancing human competitiveness."

Mass Promotion and Recruitment of Executives in Future Mobility New Business Areas

The hallmark of this reshuffle, conducted in Chairman Chung's second year in office, is the advancement of executives in EV, ICT, autonomous driving, and infotainment fields, which are Hyundai Motor Group's future growth engines. First, Executive Vice Presidents Chu Kyo-woong, Head of the Infotainment Development Center and Electronics Development Center; Kim Heung-soo, Head of the Future Growth Planning Office and EV Business Division; Lee Sang-yeop, Head of Hyundai Design Center; and Lim Tae-won, Head of the Basic Advanced Research Institute and Hydrogen Fuel Cell Business Division, were each promoted to Vice President.

Vice President Chu has previously led the development of electronic and infotainment systems, considered core future business areas, and plans to continue developing new platforms for connected cars and other future core technologies. Vice President Kim Heung-soo will focus on securing future technologies at the group level and internalizing capabilities for new business promotion. Vice President Lim Tae-won is an expert in the hydrogen fuel cell field, where Hyundai Motor Group is investing company-wide efforts; in addition to leading future advanced technology development as head of the Basic Advanced Research Institute, he will also oversee the hydrogen fuel cell business.

Jin Eun-sook, former CTO of NHN, was recruited as head of the ICT Innovation Headquarters. Vice President Jin is an expert in data, cloud, and IT service platform development, having successfully led numerous new businesses during her tenure at NHN. She also served as CEO of subsidiaries NHN Soft and NHN Edu, leading cloud-related technology, business, and organizations. Vice President Jin is expected to focus on driving IT and software infrastructure innovation at Hyundai Motor Group and establishing a developer-centric organizational culture.

Additionally, Jang Woong-jun, Head of the Autonomous Driving Business Division and Motional CSO, and Kim Jeong-hee, Head of AIRS Company and CDO, were each promoted to Executive Vice President. Executive Vice President Jang is an expert in autonomous driving and advanced driver-assistance systems (ADAS), having achieved significant results in securing related technologies for Hyundai Motor. Executive Vice President Kim has also distinguished herself since joining Hyundai Motor in 2018 by developing various AI technology-based solutions.

In the sales division, leaders who delivered strong performance despite various challenges such as the COVID-19 pandemic and semiconductor supply shortages were promoted. Kim Sun-seop, Head of the India Region Headquarters, was promoted from Executive Vice President to Senior Vice President and Global Business Management Headquarters Head, and Oh Ik-gyun, Head of the Russia Region Headquarters, was promoted from Executive Vice President to Senior Vice President. The Indian market sold approximately 640,000 units from January to November, surpassing China to become the fourth-largest market. Russia is also a rapidly growing region where Hyundai recently overtook the local brand Lada to become the market leader on a monthly basis.

Furthermore, Graham Russell was recruited as Genesis Chief Brand Officer (CBO). Mr. Russell has experience with luxury brands such as Bentley and Macallan and is expected to contribute to strengthening the overall competitiveness of the Genesis customer experience.

Vice Chairman Yoon Yeo-cheol Retires... Strengthening Chung Eui-sun's Direct Control System

In this reshuffle, Vice Chairman Yoon Yeo-cheol, who served as Hyundai Motor Group's labor affairs chief and troubleshooter for labor-management issues for over 20 years, stepped back to an advisory role. Vice Chairman Yoon was the last loyal aide of Honorary Chairman Chung Mong-koo within the group and the only non-owner family member to serve as vice chairman. Additionally, President Ha Eon-tae, who oversaw domestic production as Ulsan Plant Manager; President Lee Kwang-guk, who managed China operations; and President Lee Won-hee, responsible for quality control, also retired to advisory positions.

With Vice Chairman Yoon's retirement, Chairman Chung's direct control system is expected to be strengthened. After this reshuffle, the only remaining vice chairman in the group is Chung Tae-young, Vice Chairman of Hyundai Card. Considering that Vice Chairman Chung is Chairman Chung's brother-in-law and focuses on the financial sector, the vice chairman position will effectively disappear from the group's core automotive business. Industry insiders view this as Hyundai Motor Group enhancing agility and dynamism by strengthening Chairman Chung's direct control system to proactively respond to the global shift toward future mobility, including electric vehicles (EVs) and autonomous vehicles.

An industry official commented, "As global automakers rapidly move to secure leadership in future vehicle sectors, Hyundai Motor Group's reshuffle stands out for its focus on the group's future vision. The retirement of so-called 'old boys' and the strengthening of Chairman Chung's direct control system will play a positive role in enhancing agility and dynamism amid fierce competition."

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