"‘Ignoring Customer Interests Leads to Stagnation’: Why Hyundai Motor Chairman Quoted Peter Drucker"

Chairman Chung Eui-sun Repeatedly Emphasizes Customer-Centric Focus at New Year's Gathering

"Peter Drucker evaluated that companies with stagnant growth have failed in innovation and adaptation, and especially said that executives of such companies made decisions that benefited themselves rather than launching products and services for the benefit of customers. When we make decisions, if we think about whether the final consumer, the customer, will be satisfied rather than being swept away by selfishness of oneself or one's department, many answers come out."

This was emphasized by Chairman Chung Eui-sun at the Hyundai Motor Group New Year's meeting held on the 6th. After the CEOs of major affiliates sequentially presented their business strategies for this year and beyond, Chairman Chung responded like this to the host's request for overall opinions. When quoting expressions from the management scholar Peter Drucker's book, he carefully reviewed the note he had written and conveyed his request.

Hyundai Motor Group Chairman Chung Euisun is speaking at the '2025 Hyundai Motor Group New Year Meeting' held on the 6th at Hyundai Motorstudio in Goyang-si, Gyeonggi-do. Photo by Kim Hyun-min

Chairman Chung said, "It is important to make plans meticulously, but ultimately it is execution power," and added, "The most important thing in that process is the customer, and it is important to satisfy what customers want with our products and services and naturally blend into customers' lives to accompany them."

At the New Year's meeting that day, Chairman Chung and key executives had a roundtable Q&A session with all employees. As an important achievement since his inauguration as chairman, he cited the changed organizational culture. Chairman Chung said, "A culture that challenges new things and is not afraid of failure is important," and added, "We have paid attention to communication and helping each person focus efficiently on their work, but there is still a long way to go."

The group-level mid- to long-term vision slogan, ‘Progress for Humanity,’ may be somewhat abstract, but he asked to understand it ultimately as a direction for the next generation. Chairman Chung explained, "Eco-friendly technologies, software-defined vehicles (SDV), robotics, future aerial mobility (AAM), etc., are not just to showcase and boast about technology, but we must consider how technology actually affects customers," and added, "The speed at which products come out is important, but producing proper products is more important."

Hyundai Motor Group Chairman Chung Euisun and executives are taking a commemorative photo at the '2025 Hyundai Motor Group New Year's Meeting' held on the 6th at Hyundai Motorstudio in Goyang, Gyeonggi Province. Photo by Kim Hyunmin

The event, which had the character of a New Year's kickoff ceremony at the beginning of the year, was held about 40 minutes longer than originally scheduled. The fact that the chairman and key executives spoke directly about specific business plans reflected the intention to share the company's mid- to long-term vision more clearly with all employees.

Jang Jae-hoon, Vice Chairman of Hyundai Motor Group in charge of finished vehicles and planning coordination, explained, "Since this year is so important that it can determine the next several years, I thought it was necessary to deliver a clear vision directly through the leaders (presidents)," and added, "To break through the crisis head-on and find opportunities within the crisis, the entire group must coordinate (align) and create synergy."