Hyundai Motor chief quits executive role at steel affiliate

Hyundai Motor Group Executive Vice Chairman Chung Euisun has resigned as an inside executive director of the group’s steel affiliate, Hyundai Steel, the company said Wednesday. 

Chung aims to focus on the group’s core automotive business as the group seeks to transform itself into a smart mobility solutions provider, according to the company. 

Chung served in his executive role at Hyundai Steel since 2012 but rarely made an appearance at its executive directors’ meetings, as meetings for directors of the group’s major affiliates tend to overlap. 

The automotive empire’s heir apparent still holds inside executive director positions at Hyundai Motor, Kia Motors and Hyundai Mobis. 

Hyundai Steel said in a statement to its shareholders that the company had named Vice President Seo Myung-jin as inside executive director. His appointment is subject to shareholders’ approval at a meeting set for March 25. 

By Kim Da-sol (ddd@heraldcorp.com)