HD Hyundai Kwon Oh-gap Calls Emergency Executive Meeting... "Reevaluating Management Plan from Scratch"

"Take Responsibility Especially When Things Are Uncertain"

Chairman Kwon Oh-gap of HD Hyundai urgently convened a full meeting of the presidents of major affiliates on the 7th and decided to review the existing management plans from scratch according to each company's contingency plans.

Kwon Oh-gap, Chairman of HD Hyundai. Photo by Hyunmin Kim kimhyun81@

At the meeting attended by 20 presidents from 15 major affiliates including Vice Chairman Jung Ki-sun, HD Hyundai Heavy Industries, HD Hyundai Heavy Industries, and HD Hyundai Oilbank, Chairman Kwon emphasized, "Recent fluctuations in global economic indicators such as stock prices, exchange rates, and oil prices are unusual," adding, "In an uncertain management environment, it is necessary to strengthen core capabilities to enhance the competitiveness of our main businesses while solidifying our internal foundation."

The presidents agreed that due to HD Hyundai's business structure centered on manufacturing and exports, it is inevitably greatly affected by global economic fluctuations. They decided to intensively review the performance for the second half of this year considering changes in the management environment by the end of this month and to establish the 2025 management plan early.

HD Hyundai explained the background of holding the emergency meeting as "to assess risks and seek countermeasures in response to recent rapid changes in the global management environment, such as concerns over a U.S. economic recession, bubble controversies surrounding major big tech companies including artificial intelligence (AI), 'yen carry trade liquidation,' and the re-escalation of geopolitical instability in the Middle East."

Chairman Kwon said, "The role and judgment of leaders become even more important in situations of great uncertainty," and urged, "Please remember that the sincere sense of responsibility of the representatives present here is the first step to overcoming uncertainty." He continued, "We must clearly explain the risks the company faces and their impacts to employees and build consensus so that everyone can move forward with one heart and one mind toward the same goal."

This content was produced with the assistance of AI translation services.