Hyundai Motor's Global 'Major Region System' Introduced... Aiming for Global 'Top 3'

Strengthening Responsible Management by Major Regions: North America + Latin America, India + Middle East, Europe + Russia

Chung Euisun, Senior Vice Chairman of Hyundai Motor Group, was appointed chairman on the 14th, marking the official start of the third-generation management system of Hyundai Motor Group. Hyundai Motor Group, including Hyundai Motor and Hyundai Mobis, held an extraordinary board meeting that morning and approved the appointment of the new chairman, Chung. Accordingly, Chairman Chung became the undisputed head of the group just 2 years and 1 month after his promotion to senior vice chairman of the group in September 2018, and 7 months after becoming the chairman of Hyundai Motor's board in March this year. The photo shows the Hyundai Motor Group headquarters in Seocho-gu, Seoul on that day. Photo by Kim Hyunmin kimhyun81@

[Asia Economy Reporter Yu Je-hoon] Hyundai Motor Company is reorganizing its existing nine global regional headquarters into five 'major regions' to strengthen local responsible management. This plan aims to further enhance the global regional headquarters system that has already shown results.

According to industry sources on the 20th, Hyundai Motor introduced the major regional system through last week's organizational restructuring. Accordingly, the current nine regional headquarters divided by area?North America, Europe, India, Latin America, Asia-Pacific, Russia, etc.?will be reorganized into five to six major regional headquarters.

Representative examples include the 'Americas Major Region,' which combines North and Latin America; the 'Europe-Russia Major Region,' overseeing Europe and Russia; and the 'India-Middle East-Africa Major Region,' covering India, Africa, and the Middle East. The Americas Major Region will be led by President Jose Munoz, head of the North America regional headquarters; the Europe-Russia Major Region by Michael Cole, head of the Europe regional headquarters; and the India-Middle East-Africa Major Region by Vice President Kim Eon-su, who was in charge of the Indian market.

Additionally, Hyundai Motor is reportedly planning to establish a new major region to oversee the domestic business headquarters and the Asia-Pacific regional headquarters.

Industry insiders view this organizational restructuring as an effort to maximize efficiency by strengthening responsible management centered on regions with similar characteristics amid ongoing challenges and crises in the finished vehicle industry, such as electrification and eco-friendliness, the COVID-19 pandemic, and the shortage of automotive semiconductors.

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