Euisun Chung: Steering Hyundai Motor Group Toward a Sustainable Future

Euisun Chung, born on October 18, 1970, in South Korea, has emerged as a pivotal figure in the global automotive industry. As the Executive Chairman and CEO of Hyundai Motor Group, he has been instrumental in steering the conglomerate toward innovation, sustainability, and global expansion. His leadership journey reflects a blend of strategic foresight and a commitment to societal advancement.

Educated at Korea University, where he earned a bachelor’s degree in business management in 1993, and later at the University of San Francisco, where he completed his MBA in 1997, Chung’s academic background laid a solid foundation for his business acumen. His early career included roles at Hyundai Precision and Industries Ltd. in San Francisco and Itochu Corporation in New York, experiences that provided him with a global perspective on business operations.

In 2005, Chung took on the role of President at Kia Motors Corporation, a subsidiary of Hyundai Motor. During his tenure, he was credited with revitalizing the brand, notably through the successful launch of models like the Kia Cee’d, Soul, and Forte, which resonated well in European and American markets. His strategic initiatives during this period were pivotal in enhancing Kia’s global footprint.

Ascending to the position of Vice Chairman at Hyundai Motor Company in 2009, Chung focused on streamlining operations and fostering innovation. His leadership was further solidified in 2018 when he became the Executive Vice Chairman of Hyundai Motor Group, overseeing a broader spectrum of the conglomerate’s activities. In October 2020, he succeeded his father, Chung Mong-koo, as the Executive Chairman and CEO, marking a new era for the group.

Under Chung’s stewardship, Hyundai Motor Group has embarked on a transformative journey toward sustainability and technological advancement. The company has made significant strides in electric vehicle (EV) development, with the launch of models like the IONIQ series, reflecting a commitment to reducing carbon emissions and embracing renewable energy sources. This strategic shift aligns with global trends favoring eco-friendly transportation solutions.

In December 2024, Hyundai Motor Group announced a partnership with NVIDIA to accelerate the development of artificial intelligence (AI) solutions for future mobility. This collaboration aims to integrate advanced AI technologies into Hyundai’s vehicles, enhancing autonomous driving capabilities and user experience. The partnership underscores Chung’s vision of positioning Hyundai at the forefront of automotive innovation.

Chung’s influence extends beyond the automotive industry. In December 2024, he was re-elected as the 14th President of the Korea Archery Association (KAA), a position he has held since 2005. His leadership has been instrumental in elevating South Korea’s prominence in international archery competitions, with the national team achieving historic successes, including five gold medals at the 2024 Paris Olympics. Under his guidance, the KAA has modernized its administrative systems and introduced advanced training technologies, such as personal training shooting robots and posture analysis systems, significantly enhancing athlete performance.

In October 2024, Chung met with Indian Prime Minister Narendra Modi to discuss the development of the Indian mobility industry. The discussions centered on cooperation in establishing an EV ecosystem, including the localization of production and the expansion of EV charging infrastructure. This engagement highlights Hyundai’s commitment to supporting India’s ‘Make in India’ initiative and contributing to the country’s sustainable development goals.

Chung’s leadership has been recognized globally. In 2023, he was honored as an Honorary Commander of the Order of the British Empire, acknowledging his contributions to international business and cultural exchange. His strategic vision and commitment to innovation have positioned Hyundai Motor Group as a leader in the automotive industry, with a clear focus on sustainability and technological advancement.

As of December 2024, Forbes estimated Chung’s net worth at $3.3 billion, ranking him among the wealthiest individuals in South Korea. His personal life remains private; he is married with two children and resides in Seoul, South Korea.

Euisun Chung’s journey from a business student to the helm of a global automotive powerhouse exemplifies visionary leadership. His strategic initiatives in electric mobility, technological innovation, and international collaboration continue to shape the future of Hyundai Motor Group, steering it toward a sustainable and technologically advanced era.