[천지일보=정다준 기자] Chung Mong-koo, the honorary chairman of Hyundai Motor Group, resigned from Hyundai Motor’s executive director and the chairman of the board of directors last year, and will drop the last remaining registered director of Hyundai Mobis. Accordingly, Honorary Chairman Chung resigns from the group management.
According to the business community on the 21st, Honorary Chairman Chung is scheduled to resign from the position of registered director at the Hyundai Mobis shareholders’ meeting held on the 24th of next month.
Honorary Chairman Chung’s term as an executive director of Hyundai Mobis will expire in March next year, but since his son, Chairman Eui-sun of Hyundai Motor Group, is leading the group’s management, it seems that he will not maintain his term of office until next year.
Hyundai Mobis is planning to appoint Ko Young-seok, R&D Director of Planning and Operation, as an executive director who will be vacant due to the resignation of Honorary Chairman Chung at this shareholders’ meeting. This is the first time that a senior executive has been recommended as an executive director with the aim of considering professionalism rather than position.
Born in 1938, Honorary Chairman Chung has grown the Hyundai Motor Group into the world’s fifth-largest automobile group in 10 years from its inception, and contributed to the development of the global automobile industry. Having succeeded as Chairman of Hyundai Motor Company in 1998 and Chairman of Hyundai Motor’s Board of Directors in 1999, he expanded the group’s appearance by successfully acquiring Kia Motors (Kia), Hanbo Steel, and Hyundai E&C at the time of bankruptcy in the aftermath of the International Monetary Fund (IMF) crisis.
In September 2000, the Hyundai Motor Group, which had assets of 10 subsidiaries including Hyundai Motor Company, was only 34.4 trillion won, and as of the end of 2019, the Hyundai Motor Group has grown into a group with a total of 23.46 trillion won. In this process, Honorary Chairman Chung led an unprecedented high-speed growth in the global automobile industry, focusing on’quality management’ and’field management’. In particular, last year, it was the first Korean to be dedicated to the American Automobile Hall of Fame.
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