Hyundai Motor to Hold General Meeting on 24th Next Month... Chairman Chung Eui-sun Reappointed as Inside Director

[Asia Economy Reporter Hyunseok Yoo] Hyundai Motor Company has decided to reappoint Chairman Chung Eui-sun as an inside director at the regular shareholders' meeting to be held next month.

According to the completed car industry on the 24th, Hyundai Motor Company plans to hold the regular shareholders' meeting on the 24th of next month and appoint President Park Jung-guk, head of the R&D division, and Vice President Lee Dong-seok, in charge of domestic production, as new inside directors. In addition, Chairman Chung Eui-sun, whose term of office ends after three years, will be reappointed as an inside director.

President Park and Vice President Lee are successors to former President Albert Biermann (head of R&D division) and former President Ha Eon-tae (in charge of domestic production and Ulsan Plant manager), respectively. At the end of last year, former Presidents Biermann and Ha stepped down from frontline positions. Their duties were taken over by President Park and Vice President Lee.

Hyundai Motor Company had a three-person representative director system consisting of Chairman Chung, President Jang Jae-hoon, and former President Ha. However, with former President Ha stepping down, the current system is a two-person representative director system.

Additionally, at the shareholders' meeting, the agenda will include the reappointment of three outside directors whose terms have ended, approval of financial statements, and approval of the director remuneration limit.

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