Chung Mong-koo Archives | Be Korea-savvy
Hyundai Motor Chairman Urges Development of Luxury, Clean Vehicles

Hyundai Motor Chairman Urges Development of Luxury, Clean Vehicles

SEOUL, Sept. 5 (Korea Bizwire) – The chief of South Korea’s top automaker Hyundai Motor Group on Monday called for stepped-up efforts to develop new luxury and environmentally friendly cars to meet future demands, saying the future is already here. Group Chairman Chung Mong-koo also stressed the importance of the U.S. market as he headed [...]

AmorePacific Chairman, Richest Man in Stock Value in Korea

AmorePacific Chairman, Richest Man in Stock Value in Korea

SEOUL, July 3 (Korea Bizwire) – Suh Kyung-bae, chief of South Korea’s top cosmetics maker AmorePacific Group, has become the country’s richest man in stock value, overtaking former No. 1 Samsung Group Chairman Lee Kun-hee, market data showed Thursday. Stocks owned by Suh were valued at 12.8 trillion won (US$11.4 billion) as of Thursday, while [...]

Hyundai Motor Group Chairman Vows More Investment to Enhance Competitiveness

Hyundai Motor Group Chairman Vows More Investment to Enhance Competitiveness

SEOUL, March 13 (Korea Bizwire) – Hyundai Motor Group Chairman Chung Mong-koo said Friday that the nation’s largest automaker will push to enhance product competitiveness by expanding investment this year amid fierce competition from foreign brands and growing uncertainty at home and abroad. In his greeting to investors ahead of a general meeting of shareholders, Chung said [...]

Hyundai Motor Chairman, Son Gain $1 Billion from Stake Sale in Logistics Arm

Hyundai Motor Chairman, Son Gain $1 Billion from Stake Sale in Logistics Arm

SEOUL, Feb. 6 (Korea Bizwire) – Hyundai Motor Group Chairman Chung Mong-koo and his son offloaded part of their shares in the group’s logistics unit, Hyundai Glovis Co., at an estimated 1.1 trillion won (US$1 billion), industry sources said Friday. According to the sources, the two sold 5.02 million shares in the affiliate, which account [...]

Hyundai Motor Seeks Co-existence with Nearby Commercial Area

Hyundai Motor Seeks Co-existence with Nearby Commercial Area

SEOUL, Feb. 3 (Korea Bizwire) – To revitalize a struggling commercial area near the former KEPCO headquarters site in Seoul, Hyundai Motor Group plans to transfer employees from some of its subsidiaries, who currently work at different locations, to the KEPCO building. The world’s fifth largest automobile manufacturer plans to move 1,000 workers in the metropolitan area [...]

Owner Families’ Botched Succession Strategies Become Risks for Companies

Owner Families’ Botched Succession Strategies Become Risks for Companies

SEOUL, Jan. 16 (Korea Bizwire) — When it comes to buying stocks in South Korea’s family-run conglomerates, reading numbers on balance sheets may not be enough to predict their performance. What the owner family does often matters more. As several of such business groups, called chaebols locally, are preparing for managerial transfers to the third [...]

“In a Situation like This, We Can Trust No One but Ourselves”…Hyundai Chairman

“In a Situation like This, We Can Trust No One but Ourselves”…Hyundai Chairman

  “In a difficult situation like now, we can trust no one but ourselves.Let’s not rest on our laurels or not shrink from the unfavorable market conditions. Let’s just soldier on to achieve bigger goals.” “Eight million units of sales performance is just a beginning. We should believe in ourselves and work harder to attain [...]