Euisung Chung categorizes two types of challenges the Hyundai Motor Group is facing – ‘predictable’ and ‘unexpected’ – and outlines strategies for overcoming both. Focus this year to be on overcoming challenges through innovation, embracing change, and further strengthening teamwork, along with investment in key business areas and strategic collaboration with partners.
07 Jan 2025 | 4634 Views | By Autocar Professional Bureau
Hyundai Motor Group held its annual New Year’s Address yesterday at the Hyundai Motorstudio Goyang, near Seoul, where executive chairman Euisun Chung outlined the Group’s focus for 2025: overcoming challenges through a commitment to innovation, embracing change, and further strengthening teamwork.
This year’s event adopted a new format to ...
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Hyundai Motor Group held its annual New Year’s Address yesterday at the Hyundai Motorstudio Goyang, near Seoul, where executive chairman Euisun Chung outlined the Group’s focus for 2025: overcoming challenges through a commitment to innovation, embracing change, and further strengthening teamwork.
This year’s event adopted a new format to drive in-depth dialogue among attendees, discussing the global business environment for the year ahead and the Group’s strategic direction.
Along with the chairman, Group Vice Chair Jaehoon Chang, Hyundai Motor President CEO José Muñoz, Presidents Sung Kim and Changhyeon Song, Kia President and CEO Ho Sung Song, Hyundai Glovis CEO Kyoo Bok Lee, Hyundai Capital CEO Jung Hyung-jin and Hyundai Engineering & Construction Vice President and CEO Hanwoo Lee all took questions from the audience of more than 200 employees, plus many more watching globally on the Group’s livestream.
Euisun Chung began by thanking Hyundai Motor Group employees around the world. “We achieved a lot last year,” he said. “These achievements were the result of your tireless efforts to deliver the quality, trust and experience our customers expect. I extend my deepest gratitude to you all.”
He continued by emphasizing the importance of facing both internal and external challenges over the year ahead, as well as the potential for global growth across the Group’s operations by overcoming adversity through its commitment to innovation, further strengthening teamwork, and a proactive approach to creating future opportunities.
He said, “Innovation is in Hyundai Motor Group’s DNA. If we continue to embrace change and pursue innovation, we can overcome any test or difficulty we may face.” With geopolitical uncertainties, shifts in the global economy, evolving consumer preferences, technological evolution in the mobility industry, emerging competitors, and the accelerating pace of innovation, 2025 will be a year of complex global dynamics.
He also reinforced Hyundai Motor Group’s resilience and its ability to further strengthen its position as a global mobility leader by looking for opportunities in every challenge. “There is no need to be intimidated by uncertainties ahead. Without challenges, we risk becoming complacent, which presents a bigger danger. We cannot assume success in 2025 simply because of our strong performance last year. But we should also not be pessimistic as a defensive mindset can stifle innovation. Challenges can sharpen awareness and drive action – Hyundai Motor Group has successfully navigated challenges in the past and emerged stronger. We will do the same again.”
Addressing challenges and creating opportunities
The Hyundai Motor Group chairman categorized two types of challenges the Group is facing – ‘predictable’ and ‘unexpected’ – and outlined strategies for overcoming both.
He stressed that thorough preparation is key in overcoming predictable challenges, adding that “It’s not simply about eliminating risks, but about a comprehensive understanding of the background, context, and historical trends to create opportunities for future growth.”
Chung continued by highlighting the importance of fundamental capabilities as a key factor in addressing unexpected challenges, including flexible and open processes, a culture of objective analysis and agile response, and continuous, unified action to achieve the Group’s shared goals.
With the appointment of José Muñoz as Hyundai Motor’s first non-Korean CEO in mid-November 2024, executive chairman Chung emphasized this milestone as “a clear expression of our commitment to innovation”, reiterating the Group’s dedication to creating a global culture where talented individuals are recognized and can thrive regardless of their nationality, gender, seniority or background.
He closed the Group’s 2025 new year’s address by highlighting that “we must expand our strong commitment to innovation,” linking leadership in industrial change and technological development, strategic investment in core areas for the Group, and collaboration with other partners when necessary.
“Our greatest asset is our people. Their talent and resilience mean we do not retreat when we face adversity – we innovate. We embrace challenges as opportunities to grow stronger and to shape a brighter, more sustainable future. We will continue to work together in 2025 to further strengthen Hyundai Motor Group’s collective vision.”
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