Chairman Chung Mong-koo made a global company for Hyundai Motor Company… Business management completely removed

Mong-koo Chung, honorary chairman of Hyundai Motor Group, visits Kia Motors’ Gwangju plant in 2008 and tours the production line. March 18, 2008 [사진=한경DB]

Jeong Mong-koo (83) Hyundai Motor Company(242,000 +2.76%)Group Honorary Chairman Hyundai Mobis(321,500 +1.10%) He even gave up his position as a registered director and completely withdrew from the group management.

According to the business community on the 21st, honorary chairman Chung Mong-koo is expected to drop off the registered director at the general shareholders’ meeting of Hyundai Mobis on the 24th of next month.

The term of office of honorary chairman Chung Mong-koo was until next March. Hyundai Mobis recommended Ko Young-seok, head of the R&D planning and operation department, as his executive director. This is the first time that a senior executive has been recommended as an executive director.

Honorary Chairman Chung Mong-koo’s resignation was a scheduled procedure. He was in 2014 Hyundai Steel(39,950 -0.37%) Director position, 2018 Hyundai E&C(42,000 +1.82%) Following the directorship, he resigned as honorary chairman after handing over the position of group head to his son, Eui-sun Eui-sun, last October.

Emeritus Chairman Chung Mong-koo, born in 1938, is considered the world’s fifth-largest automobile group as a fighter. After becoming the chairman of Hyundai Motor Company in 1998, he became the chairman of the board of directors in March 1999, and took control of the management of Hyundai Motors instead of the former honorary chairman of Hyundai Motor Company’s small father’Pony Jeong’ Seyoung Jeong.

The following year, in 2000, after having a’Prince’s Difficulty’ with his late younger brother Chung Mong-Heon, the former chairman of Hyundai Group, he took a’Prince’s Difficulty’ position, and then came out with only Hyundai Motor Company affiliated companies and took a’stand alone’.

At the time of the separation of the Hyundai Group, Samsung, Hyundai, and LG(99,600 -1.39%), SK(285,500 -1.38%)It was the 5th place in the business world after that, but the Hyundai Motor Group is currently solidifying its second place after Samsung.

In particular, Honorary Chairman Chung Mong-koo has led the company for over 20 years and left the keywords’quality management’ and’field management’. It secured core technologies by establishing the Namyang Research Center, the headquarters of the group’s R&D, and was also the first Korean to be dedicated to the Automotive Hall of Fame in the United States.

On August 12, 1999, Hyundai Motor Company’s Honorary Chairman Chung Mong-koo puts then President Lee Gye-an and Lee Choong-gu, president in charge of R&D. [사진=한경DB]

Honorary Chairman Chung Mong-koo did not appear in the official statue after attending the National Assembly investigation for the investigation of the facts of the Gukjeong Nongdan Gate in December 2016. It is known that he did not even attend the board of directors when he entered his 80s.

In mid-July of last year, when he was hospitalized at Asan Hospital in Seoul for diverticulitis of the colon, there was a theory of health problems. Honorary Chairman Chung Mong-koo is known to stay at his home in Hannam-dong after being discharged from the hospital at the end of November last year after receiving treatment for inflammation and recovering his health.

Hyundai Motor Group, chaired by Chairman Eui-sun Eui-sun, succeeded in exporting the world’s first hydrogen electric trucks to maintain global leadership in the hydrogen field. The goal is to supply 1,600 units by 2025 and more than 25,000 units of hydrogen electric trucks by 2030 to the European market. In particular, it aims to become a global leader by selling 1 million electric vehicles and recording more than 10% market share in 2025.

An official from Hyundai Motor Group said, “It was scheduled for the honorary chairman Chung Mong-koo to resign from the registered director of Hyundai Mobis.”(2,875 +2.68%) “The term of office as a registered director remained, and was maintained.”

Chung Mong-koo, Honorary Chairman of Hyundai Motor Group [사진=현대차그룹]

Reporter Kang Kyung-joo [email protected]