Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
Hyundai Motor chairman inducted into Automotive Hall of Fame
Hyundai Motor Group Chairman Chung Mong-koo / Courtesy of Hyundai Motor Group
By Baek Byung-yeul
By Baek Byung-yeul
Chung Mong-koo, chairman of Hyundai Motor Group, will become the first Korean to be inducted into the Automotive Hall of Fame, the industry's top honor, the country's leading automaker said Friday.
Established in 1939, the Automotive Hall of Fame has honored industry leaders who have greatly contributed to the advancement of the auto industry every year.
Since its establishment, the Automotive Hall of Fame has recognized notable figures of the industry such as Ford Motor Company founder Henry Ford; Thomas Edison; Karl Benz, founder of Mercedes-Benz; Soichiro Honda, founder of Honda; and Toyota founder Kiichiro Toyoda.
The organization said Chung would be added to the Hall of Fame as the chairman has been credited with the success of Hyundai Motor Group, adding his legacy is “on par with other legends of the industry who have launched and guided an automotive firm to global growth.”
“Chairman Chung Mong-koo is the industry leader credited with the success of Hyundai Motor Group. Through Chung's leadership, Hyundai Motor became Korea's largest automaker and Hyundai Motor Group became the world's fifth largest automotive group,” the Automotive Hall of Fame said in a statement.
“Chung is noted for many remarkable accomplishments, including acquiring Kia Motors for Hyundai Motor Group; spearheading the group's growth with new plants in key regions including the United States, Europe, China, India, Brazil and Russia; and creating a highly efficient vertically integrated business structure that produces everything from steel to vehicles,” the organization added.
Chung will receive the honor at the awards ceremony scheduled to be held in Detroit on July 23. Other Hall of Fame inductees include Thomas Gallagher, CEO of auto replacement parts maker Genuine Parts Company (GPC); Helene Rother, who became one of the first female automotive designers for General Motors Co.; and Jay Leno, former host of “The Tonight Show” and automotive enthusiast.
Hyundai Motor said Chung has been “a steadfast champion for development of the nation's automobile industry and economy.”
“Amid the collapse of the Korean automotive industry during the 1990s Asian financial crisis, Chung successfully revived Kia Motors and fostered it as a global automotive brand. Under Chung's leadership, Hyundai Motor Group rapidly expanded to compete head to head with the world's leading automakers. As a result, Chung's efforts affected lasting change in the global automotive landscape and the Korean economy,” Hyundai said.
Hyundai added Chung also has made efforts to advance the global competitiveness of the automaker.
“He established a standard plant construction system that can be rapidly implemented anywhere to help assure consistent high-quality production evident in the many quality awards earned by Hyundai and Kia vehicles around the world. Chung has also established one of world's largest research and development centers to advance the company's competitiveness,” the company said.