Chairman Chung back in US to inspect mobility biz

By Kim Hyun-bin

Hyundai Motor Group Chairman Chung Euisun has left for the U.S. for the second time in a month to look into potential investment opportunities and sales strategies there as well to promote the company's future mobility business.

Hyundai Motor Group Chairman Chung Euisun

According to industry sources, Chung departed in his private jet from Gimpo International Airport, Friday, on his third U.S. trip this year. Chung visited the U.S. West Coast in April and the East Coast in June.

“The chairman left to check on the U.S. market and will head to Japan next to encourage the Korean Olympic archery team as chairman of the Korea Archery Association,” a Hyundai Motor official said.

Industry watchers believe Chung's visit is to show appreciation to company employees for their recent record breaking sales of Hyundai's premium Genesis sedan in the region as well as to review local sales strategies and possible large scale investment opportunities.

The Hyundai Motor Group plans to spend $7.4 billion over the next five years on future growth engines such as electric vehicle production, urban air mobility, robotics and autonomous driving technology.

In April, Chung visited Los Angeles where Hyundai's U.S. corporate sales body is located as well as the Alabama production plant. Last month, he visited autonomous-driving affiliate, Motional, and robotics company Boston Dynamics' headquarters to inspect the latest in innovative technology development.

After his U.S. visit, he will head to Japan for the Tokyo Olympics as the chairman of the Korea Archery Association (KAA). Chung first became the chairman of the KAA in 2005 and has been a key supporter of the association for the past 16 years.

Chung is scheduled to meet with the national archery team July 24, the day of the first archery gold medal match up, for which the Korea is a strong contender.