[Hyundai Motor, Over the Mobility] (39)
Chung Euisun Leadership Analysis ①
A Humble Leader Who Listens and Embraces Dissent
Leadership Grounded in Family Support
A Culture of Autonomous Challenge and Horizontal Organization
Failure as a Lea
More than a decade ago, a major conglomerate leader requested a meeting with Park Youngsun, the former Democratic Party lawmaker known as a "chaebol sniper." At the time, Park was called the "grim reaper of conglomerates," having sponsored a series of bills to amend the Commercial Act to prevent unfair succession and the Fair Trade Act to eradicate unfair business practices. From the political perspective, conglomerate families were seen as targets for reform, requiring changes in governance and greater transparency and accountability. Park chaired the Special Committee on Chaebol Reform of the New Politics Alliance for Democracy, standing at the forefront of these reforms.
The person who reached out to Park first was Chung Euisun, Chairman of Hyundai Motor Group. The two met at a location in Seoul. Breaking the silence, Chairman Chung spoke first.
Park later recalled that this was unexpected. Although Chairman Chung said he arranged the meeting to "listen," he began to candidly share his concerns as both the owner and heir of the group. As the conversation progressed, Park found her own perspective shifting. Chairman Chung asked in detail about the negative perceptions and issues surrounding Hyundai Motor in politics and society, and sought advice on how to address them. Park recalled the moment as follows:
"When you reach the top of an organization, there are hardly any people left who will tell you 'no.' That’s why it is crucial to listen with an open mind and remain humble. Chairman Chung left a strong impression on me as a leader with notable strengths in this regard."
At the 'Zero One Day' event held in 2019 at the former Hyundai Motor Service Center site on Wonhyo-ro, Yongsan-gu, Seoul, Hyundai Motor Group Chairman Chung Euisun (far left in the photo) and former Minister of SMEs and Startups Park Youngsun are seen viewing the exhibits together. Provided by Hyundai Motor Group.
This conversation symbolically illustrates how Chairman Chung approaches crises. He does not avoid criticism or challenges directed at himself. He reaches out first to those with differing views to initiate dialogue. His leadership style is characterized by confronting problems head-on and seeking solutions through communication, especially in times of crisis.
As of 2024, Hyundai Motor Group is the business group with the greatest contribution to the South Korean economy. When the semiconductor industry faltered, Hyundai Motor served as the backbone of the national economy. In March of the following year, Chairman Chung stood side by side with U.S. President Donald Trump to announce a massive investment plan in the United States, solidifying his status as a key player in the global economic order.
Nevertheless, to the public, Chairman Chung remains something of a "hidden leader." Unlike other domestic and international business leaders, he rarely reveals his personal traits or leadership style. This is partly due to his nature and partly due to the strict, tradition-oriented atmosphere unique to the Hyundai family. While his influence is clear, information about him remains limited. The public is curious about who he is, what kind of leader he is, and what philosophy guides his leadership of Hyundai Motor Group. Now, it is time to take a closer look at the true character of the "hidden leader," Chung Euisun, from a third-person perspective.
The Weight of the Hyundai Family's Eldest Grandson
Chairman Chung's thoughtful nature was not developed overnight. Many envy him as a "golden spoon," but the weight he bears is heavier than a crown. His first public appearance, including in the media, was at the funeral of his grandfather, Hyundai founder Chung Ju-yung. As the eldest grandson, he led the procession holding the portrait, marking the beginning of his life as a public figure.
Within the company, all eyes were on him, and both internal and external scrutiny was intense. Prominent vice chairmen who had long supported his father closely observed and evaluated his every move. Rather than shielding him, his father subjected him to even harsher discipline. There were countless days when he attended executive meetings without uttering a word. One executive who worked closely with him during his time as managing director recalled:
"Even when he was stressed, all he did was have a drink of soju with his secretaries at a pojangmacha. He always had to keep a low profile and be mindful of evaluations. Only when he traveled overseas could he finally relax a bit, take in the sights, and enjoy good food."
At the 2006 Kia Georgia Plant Investment Agreement Ceremony, Chairman Jeong Eui-seon (front row, left) and Sonny Perdue, Governor of Georgia, shook hands after signing the investment contract, watched by Honorary Chairman Chung Mong-koo (third from the left in the back row). Provided by Hyundai Motor Group
Since officially debuting as the eldest grandson of the Hyundai family, he has spent 25 years proving himself. The media, the public, and the internal organization have all put his decisions and judgments to the test. Even when he recruited star designer Peter Schreyer to Kia, ushering in the era of "Design Kia," or launched Genesis as an independent brand, questions and doubts followed. It was a series of breathless days. Until he was recognized as the head of a global automotive group with over 310,000 employees, he had to bear the weight of being the "Hyundai family’s eldest grandson" alone.
The Source of His Leadership: Family
The source of Chairman Chung’s leadership is his family. Korea’s unique family-centered management structure has given rise to the distinctive concept of the "chaebol." The major shareholder family monopolizes management rights through equity and voting power, consolidating control around relatives. This structure has also led to negative aspects, such as hereditary succession and the concentration of wealth.
At the same time, in Korean conglomerates, family serves as the "connecting axis" of the business and underpins the legitimacy of leadership. Recognition within the family strengthens a leader’s authority and influence. This is why disputes within chaebol families often escalate into full-blown corporate crises. There are countless examples of conglomerate families collapsing due to "family rifts" such as inheritance disputes, divorces, and sibling rivalries over management control.
However, Chairman Chung seems far removed from such issues. Even within the Hyundai family, there was a period of discord, most notably the management conflict between Chung Mongkoo, the eldest son of the late founder Chung Juyoung, and the late Chung Monghun, the fourth son and former chairman of Hyundai Group. The public dubbed this the "war of princes," and it drew significant attention. Having witnessed these conflicts growing up, Chairman Chung now values the trust, support, and unity of family members above all else. He knows better than anyone that when the family falls apart, the company can become unstable.
At the 60th anniversary event of archery in South Korea in 2023, Chung Euisun, Chairman of Hyundai Motor Group, is delivering a welcoming speech. Provided by Hyundai Motor Group
After the 60th anniversary celebration of Korean archery in 2023, Chairman Chung was seen chatting with his wife, Jung Jisun, his older sister, Jung Sunkyung, an advisor at Innocean, and his other sister, Jung Myung, president of Hyundai Commercial. His two sisters said:
"Euisun, you must have worked so hard preparing for this event. We'll be sure to give this (a plaque of appreciation and a model bow) to Dad. He'll be so happy."
This brief exchange revealed the natural, relaxed relationship among the siblings. Rather than maintaining formalities, they interacted comfortably, a stark contrast to the distant, authoritative image often associated with chaebol families in dramas.
Chairman Chung considers trust and unity among family members a key pillar of his leadership. In 2018, when his father, Honorary Chairman Chung, stepped down from management due to health reasons, Chairman Chung, then set to be promoted to Executive Vice Chairman, first sought the opinions of the family elders. Even though it was an expected succession with him already holding de facto control, he did not skip the process of seeking the support and agreement of his family.
Of course, family-centered management carries both the limitations and controversies inherent in the Korean chaebol structure. However, he remains vigilant about the risks of instability if family unity is shaken. He believes that strengthening trust within the family is the key to enhancing the organization’s sustainability.
What 'Game Changer' Means to Chung Euisun
In May 2023, Chung Euisun, Chairman of Hyundai Motor Group, is sharing his thoughts after attending a special lecture at Yonsei University's Department of Business Administration. Photo by Yonsei University.
May 2023, a barbecue restaurant in Sinchon, Seoul. The sizzling sound of meat cooking and the clinking of small soju glasses fill the air. Chairman Chung is seated, surrounded by about 40 students. That day, Yonsei University's Department of Business Administration hosted a special lecture titled "Hyundai Motor Group: From Fast Follower to Game Changer." In effect, it was a class analyzing and studying Chairman Chung’s leadership.
After attending the lecture, Chairman Chung joined the students for a post-lecture gathering. The students took turns pouring soju, and Chairman Chung accepted every glass. As his face turned red and the atmosphere relaxed, the students began to ask the "real" questions they hadn’t dared to ask in class.
"How do you plan to manage relations with the labor union?"
"What are your thoughts on the future of the Chinese market?"
"What does 'game changer strategy' mean to you?"
After a brief pause, Chairman Chung replied:
His words reflected a conviction in the power of the organization, rather than grand theories. The era when leaders could provide the right answers solely through intuition and analysis is over. As of 2025, the speed of technological change now outpaces human judgment. The right answer today may be wrong tomorrow, as new technologies powered by artificial intelligence rapidly rewrite the rules of the market.
Chairman Chung understands this reality better than anyone. That is why, rather than providing direct answers himself, he focuses on creating an organizational culture where members can find the best solutions on their own and adapt to changing circumstances. In rapidly changing times, the most important thing is not a perfect answer, but the collective ability to move toward better answers.
Professor Lee Muwon of Yonsei University’s Department of Business Administration highlights Chairman Chung’s "horizontal leadership." The late founder Chung Juyoung’s famous question, "Have you tried it?" was meant to inspire personal initiative. While the past emphasized taking risks and challenging oneself, Chairman Chung now seeks to foster an organizational culture where individuals are free to experiment and learn from failure. Ultimately, his idea of a "game changer strategy" refers to the organizational dynamism that enables collective experimentation and autonomous innovation.
Professor Lee explains, "Chairman Chung Juyoung’s leadership stimulated personal risk-taking. In contrast, Chairman Chung Euisun envisions a much more multi-layered and horizontal organization. The goal is to create a system where everyone can try new things without orders, and a culture where failure is simply a step toward trying again. This, I believe, is the true 'entrepreneurship' suited to our era."
Professor Lee Muwon of Yonsei University’s Business Administration Department is being interviewed by The Asia Business Daily at the Yonsei University Business School in Sinchon, Seoul. Photo by Jo Yongjun
His approach to failure further illuminates Chairman Chung’s leadership. In 2022, at a dinner with executives from Hyundai Motor Group’s affiliates, Chairman Chung publicly addressed setbacks in the Chinese market for the first time.
At one point, Hyundai Motor and Kia’s market share in China was close to 10%, but it has since dropped to around 1%. While local Chinese electric vehicle makers have taken over the market, Hyundai Motor Group has shifted its overseas strategy to focus on the United States and diversified its portfolio to emerging markets such as India, Southeast Asia, and the Middle East. As a result, even though it has lost ground in the world’s largest market, China, Hyundai Motor Group still maintains its position as the world’s third-largest automaker.
Jung Euisun, Chairman of Hyundai Motor Group (center in the photo), is taking a commemorative photo with employees after a town hall meeting held in India in 2024. Provided by Hyundai Motor Group
A similar attitude was evident in the failed governance restructuring of 2018. That year, Hyundai Motor Group unveiled a sweeping plan to resolve its circular shareholding structure. However, the plan-which centered on merging Hyundai Mobis and Hyundai Glovis-failed to gain market approval and was ultimately scrapped. With the issue of succession at stake, tension ran high within and outside the group. Some media even predicted a wave of dismissals during the personnel reshuffle. Yet, no one was held accountable or punished. Chairman Chung does not view failure solely as an outcome; he sees it as part of the organization’s learning process and seeks new answers within it.
The next installment will examine how Chairman Chung’s approach of turning failure into opportunity is embodied in Hyundai Motor Group’s management philosophy and future vision. We will also address the challenges and tasks that lie ahead for Chairman Chung.
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