Hyundai Motor Group marked the start of 2024 with its annual address at Kia AutoLand Gwangmyeong, Korea’s premier electric vehicle (EV) plant, outlining the Group’s key focus areas and vision for the upcoming year.
Executive Chair Euisun Chung and Group executives shared their New Year messages and the Group’s forward-looking vision under the theme ‘Together, a Valuable Start.’
Chung emphasized the Group’s mission for the year as ‘Consistency and Sustainability,’ stressing the need for enduring capabilities to navigate challenges and achieve sustainable progress in an era of global uncertainty and heightened competition.
Looking ahead to 2024, Chung expressed excitement about upcoming electrification innovations stemming from AutoLand Gwangmyeong, the Group’s inaugural EV-dedicated plant. Plans involve the production of the brand’s compact EV, EV3, for both domestic and international markets. The Group aims to expand this initiative to facilities in Ulsan, the United States, and beyond, with an overarching strategy to rank among the top three global EV manufacturers by 2030.
Acknowledging the recent recognition received—an honorary title reflecting contributions to the UK-Korea partnership—Chung credited the Group’s employees for this achievement, underscoring their professionalism and dedication.
Chung emphasized the Group’s legacy of resilience, highlighting the importance of fortifying the companies’ character to overcome challenges and ensure sustainable growth.
Consistent change, Chung emphasized, is pivotal for innovation. Stepping beyond comfort zones signifies progress in the right direction, fostering a corporate culture that encourages innovation without fearing failure. Chung urged a competitive edge through creativity across all aspects of corporate activity, encompassing product quality, safety, and cost-effectiveness.
The Group’s commitment to sustainable growth aligned with social responsibility toward the environment was emphasized. Chung advocated for a deeper focus on carbon neutrality, circular economies, and hydrogen ecosystems, showcasing the Group’s advancements in hydrogen fuel cell EVs, clean energy solutions, and the circular use of resources like EV batteries.
Quality, customer satisfaction, and trust were highlighted as pivotal factors in the Group’s pursuit of sustainability. Chung emphasized the significance of surpassing customer expectations through exceptional product quality and a relentless dedication to customer satisfaction.
Additionally, Chung stressed the importance of security in safeguarding corporate intellectual assets, urging a collective effort to fortify systems protecting these assets.
Preparing for changing trends, technological advancements, and economic shifts was underscored as crucial for informed and agile decision-making. Chung highlighted the need for a ‘culture of preparedness’ within the Group to respond proactively to uncertainties and challenges.
In conclusion, Chung expressed confidence in the Group’s employees, commending their efforts and urging continued dedication, reinvention, and innovation for a brighter and sustainable future.
The ceremony, held at Kia AutoLand Gwangmyeong, signifies the Group’s commitment to constant change and innovation, with plans to complete Korea’s first dedicated EV factory, showcasing the Group’s evolution in future mobility.
Following Chung’s address, various Group executives detailed plans for the dedicated EV plant, AAM initiatives, and the Group’s strategies for robotics, outlining the collective vision for a dynamic and innovative future.
