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Hyundai heir apparent gets No. 2 posts amid uncertainties

2018/09/14 12:45

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SEOUL, Sept. 14 (Yonhap) -- Hyundai Motor Group, South Korea's biggest carmaker by sales, on Friday named the group's heir apparent as its chief vice chairman amid growing uncertainties in the global automobile market.

Vice Chairman Chung Eui-sun will assist his father and the conglomerate's Chairman Chung Mong-koo in responding to the spread of protectionism in major trading partners such as the United States and China and tougher competition with rivals, the group said in a statement.

The appointment is the chairman's decision and is aimed at securing new growth drivers in the era of the Fourth Industrial Revolution, which is characterized by the convergence of cutting-edge technologies such as artificial intelligence.

Hyundai Motor and Kia Motors Corp., two key affiliates of the Korean auto group, together form the world's fifth-biggest carmaker by sales.

Hyundai Motor Group heir apparent Chung Eui-sun (Yonhap) Hyundai Motor Group heir apparent Chung Eui-sun (Yonhap)