Chairman Chung Eui-sun Personally Shares Future Strategies During Visits to Major Overseas Institutional Investors
Chung Euisun, Senior Vice Chairman of Hyundai Motor Group, was appointed chairman on the 14th, marking the full-scale launch of the third-generation management system of Hyundai Motor Group. Hyundai Motor Group, including Hyundai Motor and Hyundai Mobis, held an extraordinary board meeting that morning and approved the appointment of the new chairman Chung. Accordingly, Chairman Chung became the undisputed head of the group just 2 years and 1 month after his promotion to senior vice chairman of the group in September 2018, and 7 months after becoming the chairman of Hyundai Motor's board in March this year. The photo shows the Hyundai Motor Group headquarters in Seocho-gu, Seoul on that day. Photo by Kim Hyunmin kimhyun81@
[Asia Economy Reporter Kim Ji-hee] Hyundai Motor Company was highly praised for its efforts to revitalize IR activities and establish a transparent IR culture.
Hyundai Motor announced on the 21st that it won the Grand Prize at the ‘2020 Korea IR Awards Ceremony’ hosted by the Korea IR Association held at the Glad Hotel Bloom Hall in Yeouido, Seoul. The Korea IR Awards have been held since 2001 by the Korea IR Association to recognize outstanding companies and individuals who have contributed to the development of the capital market through active and efficient IR activities and shareholder-oriented management. Awardees are selected based on their performance from July of the previous year to June of the award year.
Hyundai Motor was highly evaluated for actively presenting future management strategies and strengthening communication with investors. Following February last year, Hyundai held its second ‘CEO Investor Day’ in December, signaling its transition beyond automobile manufacturing to a ‘smart mobility solutions company.’ At this event, it also announced its mid-to-long-term management strategy through 2025. It specifically presented profitability enhancement strategies, mid-to-long-term profitability targets, and division-specific mid-to-long-term investment plans to domestic and international investors.
In February this year, Hyundai held an ‘Overseas Investor Briefing’ targeting major foreign institutional investors, explaining its eco-friendly vehicle strategy, product strategies for key models, and sales strategies by major markets.
In particular, Chung Eui-sun, Chairman of Hyundai Motor Group, personally attended the company visit event for major overseas institutional investors to share future strategies. Various briefings and earnings conference calls for investors involved key executives from related divisions, including future technologies, to concretely explain Hyundai Motor’s technological capabilities and future strategies, thereby enhancing professionalism and reliability in communication with investors.
This year, as face-to-face activities became difficult due to the spread of COVID-19, Hyundai introduced webcasting for the first time and proactively explained crisis response measures through events such as the ‘COVID-19 Impact Briefing.’ Additionally, it actively pursued ESG improvement activities, including revising the governance charter and consulting with governance-related advisory bodies, strengthened shareholder voting rights through the introduction of electronic voting, and enhanced shareholder satisfaction through share buybacks.
A Hyundai Motor official stated, “We will continue to do our best to enhance corporate value and investor satisfaction through various IR activities aimed at strengthening management transparency.”
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