Hyundai Motor Group Leader Highlights Resilience and Innovation Amidst Business Challenges
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Seoul, Jan 6 (NationPress) The executive chair of Hyundai Motor Group, Euisun Chung, on Monday highlighted the critical role of resilience, innovation, and proactive preparation to address future obstacles arising from ongoing global uncertainties and expected reversals in the electric vehicle (EV) policies in the United States.
During a New Year's Greetings event at Hyundai Motorstudio Goyang, located just north of Seoul, Chung stated that external risks and crises should be viewed not as threats, but as opportunities for growth.
"Without challenges, we risk becoming complacent, which poses a greater danger than any external crisis," Chung remarked in front of his staff, as reported by Yonhap news agency. "External pressures can act as catalysts for our development."
Hyundai Motor Co. alongside its affiliate Kia Corp. is preparing for a challenging future in their American operations, especially as President-elect Donald Trump's transition team is allegedly considering the elimination of the nation's EV tax credit program, a component of the Inflation Reduction Act (IRA) established under the current Biden administration.
Chung indicated that although 2024 is expected to be a relatively stable year for the group, it is vital not to presume that 2025 will follow suit.
"Merely surviving cannot be an effective strategy," he cautioned, adding that a defensive retreat during crises will only serve to maintain the status quo instead of fostering advancement.
Reflecting on Hyundai's history of navigating past crises, Chung encouraged staff to approach the challenges ahead with confidence. "Expressions like 'the perfect storm' should elevate our awareness and inspire us to tackle challenges rather than confine us to a pessimistic and defensive stance," he stated.
In articulating his vision for 2025, Chung stressed the necessity to go beyond just mitigating risks by investigating their underlying causes and historical patterns to transform them into avenues for growth.
Chung also mentioned Hyundai Motor Group's appointment of its inaugural foreign CEO, Jose Munoz of Hyundai Motor, as evidence of its dedication to innovation and inclusivity. "Leadership will not be dictated by nationality, gender, educational background, or tenure but will be based on capability," he affirmed.
