[Exclusive] Jeong Mong-gu's Grandson Receives Management Training at Hyundai Motor Affiliate Innocean

Entry-Level Employee at New Growth Business Headquarters

Seongseong Lee, the eldest son of Innocean Advisor Dongwook Seon

[Asia Economy Reporters Choi Dae-yeol, Kim Yuri] Seon Dong-wook, son of Jeong Seong-i, an advisor at Innocean, is starting his career as an employee at Innocean. Advisor Jeong is the eldest daughter of Jeong Mong-gu, Honorary Chairman of Hyundai Motor Group, and the sister of Jeong Eui-seon, Chairman of Hyundai Motor Group. Innocean is an affiliate of Hyundai Motor Group, with Advisor Jeong and Chairman Jeong among its major shareholders.

According to a compilation of reports on the 3rd, Seon recently decided to work in the Mobility Strategy department of the company’s New Growth Business Division. It is known that he will join as a regular employee, not as an executive. Advisor Jeong recently introduced her son Seon individually to Hyundai Motor Group executives at a family event. Advisor Jeong is the largest shareholder of Innocean, holding a 17.69% stake as of the end of the third quarter last year.

Seon was born in 1988 as the son of Sun Doo-hoon, chairman of the Younghoon Medical Foundation operating Daejeon Sun Hospital, and Advisor Jeong. He studied abroad, and there is no public information about his social activities. In 2016, he married Su-yeon, the daughter of Chae Hyung-seok, Vice Chairman of the Aekyung Group.

Innocean is an advertising agency affiliated with Hyundai Motor Group and receives a significant amount of work from group affiliates. About 45% of its sales from the first to third quarters last year came from Hyundai Motor and Kia. However, the company is working to reduce its dependence on affiliates and is pursuing various new businesses for future growth.

The Mobility Strategy department where Seon will work is a representative example. In addition to the company’s core advertising agency business, it is promoting location-based advertising solutions, lifestyle culture curation, and autonomous driving-related advertising content services. Innocean added mobility-related infrastructure, service planning, and operation as new business areas to its articles of incorporation at the regular shareholders’ meeting in March last year.

Seon, the great-grandson of Jeong Ju-young, appears to be following the fourth generation of the Hyundai family who have already participated in family management. It is reported that Jeong Eui-seon’s eldest daughter, Jin-hee, is working at a Hyundai Motor overseas subsidiary. It was also reported in the media that the niece of Jeong Eui-seon and the daughter of Jeong Tae-young, Vice Chairman of Hyundai Card, joined Hyundai Card several years ago.