Cho Seok, President of HD Hyundai Electric, Receives HD Hyundai's First Management Award

First Implementation to Promote Responsible Management
Executives Who Set an Example in the Group Awarded

On the 2nd, HD Hyundai held the 'HD Hyundai Executive Award' ceremony at the New Year's greeting event. The awardees are taking a commemorative photo. From the left in the photo, Kwon Oh-gap, Chairman of HD Hyundai; Cho Seok, President of HD Hyundai Electric; and Jung Ki-sun, Vice Chairman of HD Hyundai, are posing for the photo. Photo by HD Hyundai

HD Hyundai has established the ‘HD Hyundai Executive Award’ and is promoting a culture of responsible management through awards recognizing exemplary executives within the group.

On January 2nd, the first working day of the new year, HD Hyundai held a New Year’s greeting ceremony at the HD Hyundai Global R&D Center (GRC) located in Seongnam, Gyeonggi Province, attended by Chairman Kwon Oh-gap, Vice Chairman Jeong Ki-sun, and other key executives.

On this day, HD Hyundai opened the new year by exchanging New Year greetings among executives to reaffirm their commitment to achieving the year’s management goals, while also holding the ‘HD Hyundai Executive Award’ ceremony to honor outstanding executives.

The ‘HD Hyundai Executive Award’ is a newly established award this year, given to executives at the head of division level or higher within the group who have achieved outstanding performance over the past year. The first recipient was President Cho Seok of HD Hyundai Electric.

HD Hyundai introduced this new award system for all company executives to strengthen responsible management and encourage the achievement of management goals. The company has previously operated various award programs such as the ‘HD Hyundai Person of the Year Award’ and ‘Immediate Award for Excellent Performance’ to motivate employees.

The first recipient, President Cho Seok of HD Hyundai Electric, has been recognized for leading the company’s growth by turning around the company from operating losses to profits since his appointment as CEO in 2019 through the introduction of the DNA (Do It Now, Action) management innovation program, achieving four consecutive years of profitability.

In particular, in the third quarter of last year, the company recorded an operating profit of 85.4 billion KRW, achieving the highest quarterly performance since the establishment of the individual corporation, and raised its annual order target twice based on strong performance in the North American and Middle Eastern markets. HD Hyundai Electric has projected consolidated sales of 3.302 trillion KRW for this year.

Additionally, President Cho is creating new changes in HD Hyundai Electric’s organizational culture through communication management with employees, including events like the morning coffee shop event and reverse mentoring.

On this day, President Cho expressed his award acceptance remarks, stating, “I will not be complacent with the present and will accelerate securing future growth engines,” showing his determination for a new start in 2024.

Meanwhile, HD Hyundai Chairman Kwon Oh-gap, in his 2024 New Year’s address, urged all employees to pursue change with the mindset of being national representatives amid an uncertain management environment in the new year.

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