Hyundai Motor’s 3rd-generation heir steers carmaker to global forefront

Hyundai Motor Group Executive Chair Chung Euisun speaks during the carmaker's New Year's event at Hyundai Motorstudio Goyang in Gyeonggi Province, Jan. 6. Newsis

Hyundai Motor Group Executive Chair Chung Euisun has been lauded for steering the automaker’s remarkable ascent from a global player to international frontrunner during his five-year chairmanship.

Tuesday marks the fifth anniversary of Chung’s assumption of the carmaker’s top managerial post. Under his stewardship, market watchers and critics have said he redefined modern mobility and elevated the group’s global standing.

When Chung assumed the role in October 2020, the world was engulfed in the COVID-19 pandemic. He navigated the crisis with strategic agility and has since solidified the automaker’s position as one of the world’s top three in global sales.

Under Chung, the group has aggressively expanded its presence in electric vehicles (EVs), launching dedicated EV brands such as Hyundai Motor’s IONIQ and Kia’s EV series.

The IONIQ 5 and EV6 have played a pivotal role in opening a new chapter in the group’s EV business. The vehicles have won multiple “Car of the Year” awards and enabled Hyundai Motor Group to establish itself among the top sellers in the global EV market.

In recognition of these achievements, Chung was lauded by high-profile global outlets including Newsweek, Autocar, MotorTrend, and Automotive News.

Over the past five years, Hyundai Motor Group has also carried out structural and strategic transformations across its sales and operations. Since Chung took office as chairman, combined sales from Hyundai Motor and Kia have surged to 282.68 trillion won in 2024, up from 163.9 trillion won in 2019.

The two carmakers’ combined operating profit has also jumped 380 percent to 26.9 trillion won during the same period.

Chung’s innovative drive has further helped the group expand its footprint into future mobility areas, including robotics, software-defined vehicles, autonomous driving, advanced air mobility and hydrogen-powered cars.

Hyundai Motor Group Executive Chair Chung Euisun, front row center, poses with its employees during the carmaker's New Year's event at Hyundai Motorstudio Goyang in Gyeonggi Province, Jan. 6. Yonhap

Accelerating imagination of mobility

Chung has long emphasized that robots should serve as real companions in people’s daily lives and has underscored the importance of expanding the boundaries of mobility through robotics.

The group established its first robotics lab in 2018, and in 2021, it acquired U.S. robotics firm Boston Dynamics to expand its world-class technology.

Hyundai Motor now integrates robotics throughout its mobility value chain, with a particular focus on manufacturing. The group is producing humanoid, logistics, service and wearable robots, striving to create more human-centric values.

The company plans to build a new robot factory in the United States with an annual production capacity of 30,000 units for Boston Dynamics’ Atlas, Spot and Stretch robots.

The automaker is also taking the lead in artificial intelligence (AI) innovation in manufacturing.

The Hyundai Motor Group Innovation Center Singapore (HMGICS) serves as a testbed for the group’s manufacturing transformation, aiming to turn major factories at home and abroad into robotics- and AI-powered smart plants.

In 2019, Chung became co-chairman of the Hydrogen Council, helping to drive the global hydrogen agenda.

In hydrogen mobility, Chung has consistently framed the energy transition as a responsibility to future generations. Hyundai Motor launched HTWO, the world’s first hydrogen brand and business platform encompassing the entire value chain from production and storage to transport and utilization.

Another key focus area is purpose-built vehicles (PBVs), designed for flexible, customer-centric applications in logistics, services and mobility. Kia’s PBV model, the PV5, features a modular and adaptable body system, allowing customers to change configurations based on their specific needs.

Hyundai Motor Group Executive Chair Chung Euisun signs an IONIQ 5 electric SUV during an opening event for the Hyundai Motor Group Metaplant in the U.S. state of Georgia, March 26. Yonhap

Cultural shift

Chung has also been widely praised for driving a cultural transformation within the group, repeatedly stressing the urgent need to build a more horizontal and creative organizational culture. He is well known for encouraging employees and executives to take risks and embrace challenges.

“The culture you build becomes a strong foundation for turning infinite potential into reality,” Chung said during a European town hall meeting earlier this year. “If you trust one another and focus on maximizing everyone’s capabilities, we can achieve something great together.”

Employee morale has risen in tandem. According to the group’s annual internal survey, the average satisfaction score increased from 63.2 in 2019 to 78.6 in 2024. Voluntary turnover rates at Hyundai Motor and Kia in Korea were among the lowest in 2024, at 0.39 percent and 0.35 percent, respectively.