Why Hyundai Motor heir apparent Euisun Chung is said to become chairman soon

SEOUL– Hyundai Motor Group’s executive vice chairman Euisun Chung is set to be produced chairman of the South Korean automaker as before long as Wednesday, Yonhap information agency noted, as he formally normally takes above the reins from his octogenarian father.

Hyundai Motor options to keep a board meeting perhaps on Wednesday to endorse Chung to chairman of South Korea’s next-biggest conglomerate, Yonhap noted Tuesday, citing unnamed people today common with the issue.

Hyundai declined to remark.

Chung, born in 1970, has led Hyundai’s new thrust in electric cars, mobility and hydrogen fuel cells. In July, he announced that Hyundai and sister company Kia Motors aimed to provide one million electric cars in 2025, jointly focusing on a additional than ten per cent share of the world-wide market place for EVs.