"Jung Ju-young's Middle East Myth" Jeong Eui-seon Connects with Advanced Industries

Chairman Chung Eui-sun Visits Hyundai Construction Saudi Underground Tunnel Site
Emphasizes Inheriting the Challenging Spirit of Former Chairman Chung Ju-yung, the 'Middle East Legend'
Hyundai Motor Group Expands Advanced Industries like Electric and Hydrogen Vehicles in the Middle East
Establishes CKD Plant Producing 50,000 Vehicles Annually in Saudi Arabia
Supports Building Saudi Hydrogen Mobility Ecosystem
Hyundai Construction & Engineering Secures Major Large-scale Orders in Key Middle Eastern Countries

Hyundai Motor Group is expanding its presence in the Middle East market by leading advanced industries such as cutting-edge plant construction, electric vehicles, and hydrogen mobility ecosystems. Chung Eui-sun, Chairman of Hyundai Motor Group, plans to actively explore new businesses to recreate the 'Middle East myth' achieved by the founder Chung Ju-yung based on a spirit of challenge.

On the 23rd (local time), Chung Eui-sun visited the large underground tunnel construction site of Hyundai Engineering & Construction located in Tabuk Province, northwestern Saudi Arabia. Hyundai Engineering & Construction is constructing a 12.5km underground tunnel section for high-speed and freight railway operation beneath 'The Line,' a residential area in NEOM City.

Hyundai Motor Group Chairman Chung Eui-sun (far left in the photo) is inspecting the Hyundai Construction Saudi underground tunnel construction site on the 23rd (local time).
[Photo by Hyundai Motor Group]

This construction site is not a typical desert but a mountainous terrain, requiring sophisticated technical skills. Hyundai Engineering & Construction is carrying out the project by applying domestic and international tunnel construction know-how and advanced smart construction technologies. After inspecting the site, Chairman Chung said, "Hyundai Engineering & Construction has built its history on trust, and Hyundai Motor Group will also develop together, taking responsibility and providing active support," emphasizing, "Above all, quality and safety must be the top priorities."

The Middle East is the starting point where founder Chung Ju-yung established Hyundai Group. In 1976, the founder won the contract for the Jubail Port construction in Saudi Arabia, known as the 'largest civil engineering project of the 20th century.' The contract amount was so large that it accounted for half of the government budget at the time. Through this, the founder led the 'Middle East boom' in the 1970s, serving as a catalyst for the growth of the Korean economy.

Chung Ju-yung, the former chairman of Hyundai Group (front row, right in the photo), is inspecting the current status while touring the construction site of the Jubail Industrial Port in Saudi Arabia.
[Photo by Hyundai Motor Group]

His grandson, Chairman Chung Eui-sun, is pioneering the Middle East in advanced industrial fields, from construction and industrial infrastructure development to electric vehicles and hydrogen ecosystem creation. Inheriting the founder's spirit of challenge, he plans to create Hyundai Motor Group's own 'Middle East myth' this time.

Recently, the Middle East has been actively fostering new industries in preparation for the post-fossil fuel era. In particular, Saudi Arabia is promoting 'Saudi Vision 2030,' which aims to reduce dependence on the oil industry and cultivate various growth engines. In line with this, Hyundai Motor Group is creating demand for electric vehicles by establishing a complete vehicle production base and cooperating in the energy sector to build a local hydrogen mobility ecosystem. Additionally, the group is actively exploring new businesses such as increasing orders for advanced plants and railroads.

First, Hyundai Motor Group will build a CKD (Completely Knocked Down) plant to capture Saudi Arabia, the largest automobile market in the Middle East. This plant, established in King Abdullah Economic City, Saudi Arabia, will have an annual production capacity of 50,000 units and will produce various models ranging from electric vehicles to internal combustion engine vehicles.

Hyundai Motor Group Chairman Chung Eui-sun is shaking hands with Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud after the expanded Korea-Saudi Arabia talks on the 22nd (local time).
[Photo by Yonhap News]

Furthermore, Hyundai Motor Group is expanding the base of the eco-friendly energy market in the Middle East through the creation of a hydrogen mobility ecosystem with Saudi Arabia. Hyundai Motor has signed a Memorandum of Understanding (MOU) to build a hydrogen mobility ecosystem with Air Products Qudra, which is promoting hydrogen business in Saudi Arabia, and SAPTCO, a major Saudi public transportation operator.

Hyundai Motor Group continues to receive orders for Middle East plant construction projects, recognized for its technological capabilities. This month, Hyundai Engineering & Construction and Hyundai Engineering secured the second phase of the Saudi Jafurah gas processing facility project worth 3 trillion won from Saudi state-owned oil company Aramco. They have also completed large-scale plant projects such as the Kuwait Al-Zour LNG import terminal and are currently executing the first phase of the Jafurah gas processing facility project ordered in 2021. In June, Hyundai Engineering & Construction was selected as the contractor for the 'Amiral Project,' a mega petrochemical complex facility project worth 6.5 trillion won led by Aramco. This is the largest contract ever won by a Korean company in Saudi Arabia.

Hyundai Motor Group Chairman Chung Eui-sun (center front row in the photo) visited the large underground tunnel construction site of Hyundai Engineering & Construction located in Tabuk Province, northwest Saudi Arabia, on the 23rd (local time). Chairman Chung, who visited the site, is taking a commemorative photo with the employees.
[Photo by Hyundai Motor Group]

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