The three generations of leadership at Hyundai Motor Group — founder Chung Ju-yung, Honorary Chairman Chung Mong-koo, and Chairman Chung Eui-sun — have been recognized as figures who have exerted significant influence on the global automotive industry. They have been credited with playing a pivotal role in transforming Hyundai Motor Co., which started as a small auto repair shop, into today’s global mobility company.
On Aug. 18, the influential U.S. automotive publication Automotive News announced Hyundai Motor Group’s founder Chung Ju-yung, Honorary Chairman Chung Mong-koo, and Chairman Chung Eui-sun as recipients of its “Centennial Anniversary Award.” To mark its 100th year of publication, Automotive News selected individuals and families who have had a major impact on the global automotive industry through their vision, innovation, and leadership.
In addition to the three generations of Hyundai Motor Group leadership, other honorees include Toyota’s Akio Toyoda and the Toyoda family, Stellantis’ John Elkann and the Agnelli family, General Motors (GM) Chair Mary Barra, and Ford Chairman Bill Ford.
Automotive News praised the three generations of Hyundai Motor Group leadership, stating, “They played a crucial role in rebuilding the country from the ruins of the Korean War and transforming it into today’s global manufacturing powerhouse and automotive stronghold.”
Automotive News highlighted the Hyundai Motor Group’s three generations of leadership in a special article titled “Chung Eui-sun elevates family legacy to new heights for Hyundai, Kia and Genesis.”
Explaining the reason for selecting Chairman Chung Eui-sun and the three generations of Hyundai Motor Group leadership for the “Centennial Anniversary Award,” the publication stated, “When Chung Eui-sun became chairman of Hyundai Motor Group in 2020, he not only ascended to the top of a global automotive company but also inherited a legacy of grand vision, indomitable will, and ceaseless innovation cultivated over decades by founder Chung Ju-yung and Honorary Chairman Chung Mong-koo.”
It continued, “Under Chairman Chung Eui-sun’s leadership, Hyundai Motor Group has transformed from a former ‘fast follower’ to a true leader in design, quality, and technology, elevating the group to a new dimension. Under Chung Eui-sun’s leadership, Hyundai Motor Group has established itself as a frontrunner in electric vehicles, motorsports, and safety, while also venturing into new areas such as robotics and advanced air mobility (AAM).”
Automotive News detailed how founder Chung Ju-yung challenged the times with foresight and firm determination, starting from a construction company to establishing Hyundai Motor Co. and building shipyards. Regarding Honorary Chairman Chung Mong-koo, it highlighted how he launched Hyundai Motor Group by acquiring Kia Corp., strengthened quality improvement and R&D, and grew it into a global automotive company by establishing production and sales systems worldwide.
Chairman Chung Eui-sun told Automotive News, “My grandfather, founder Chung Ju-yung, always said we should ‘follow the trends of the times’ and emphasized the importance of people. The founder was convinced that customers determine our future, and our role is to listen and respond to their opinions.”
He added, “The founder’s customer-centric management philosophy has now become the foundation of Hyundai Motor Group’s core values. I naturally learned not to fear new challenges and to gain customers’ trust.”
He also explained, “My father, Honorary Chairman Chung Mong-koo, continuously explored and achieved growth opportunities in the global market, regardless of whether it was an advanced or emerging market. His belief in quality, safety, and R&D is deeply ingrained in Hyundai Motor Group’s management philosophy.”
Automotive News showed great interest in Chairman Chung Eui-sun’s leadership and Hyundai Motor Group’s future vision. Chairman Chung was praised for breaking away from the vertical corporate culture to introduce a free and creative organizational culture, and for implementing bold personnel policies such as recruiting global talent and appointing foreign CEOs. His leadership in launching the Genesis brand and driving product innovation was also noted.
Regarding Chairman Chung’s design strategy, Automotive News wrote, “Chairman Chung’s philosophy of ‘challenging conventions and trying new things’ has led to design innovations for Hyundai, Kia, and Genesis. Now, no one calls Hyundai ordinary. Kia has become a modern and distinctive brand, and Genesis is increasing sales with sophisticated models like the G90 and GV70, recognized for their elegance and completeness.”
Furthermore, it commended Chairman Chung for simultaneously pursuing various powertrains, taking a leading role not only in electric vehicles but also in hybrid, plug-in hybrid, and hydrogen electric vehicles. In particular, it emphasized his deep understanding and insight into software-defined vehicles (SDV), artificial intelligence, robotics, and future mobility.
Regarding this award, Chairman Chung said, “Innovation should be aimed at humanity, and true progress is meaningful when it improves people’s lives. Hyundai Motor Group will continue its journey of innovation for a prosperous life for humanity and the planet through creative, sustainable, and customer-centric solutions.”
He is scheduled to attend the “Automotive News Congress” in Detroit next month, where he will receive the Centennial Anniversary Award as a representative and participate in a discussion with K.C. Crain, CEO of Automotive News.
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