Hyundai Card CEO promoted to group vice chairman

Hyundai Motor Group said Friday that it promoted Hyundai Card CEO Chung Tae-young, or Ted Chug, to be its vice chairman.

“For the past 11 years as Hyundai Card CEO, Chung has led the group’s financial business in step with the growth of Hyundai Motor Co. and Kia Motors,” said the group in a statement.

Since 2003, when Chung took office as the credit card affiliate CEO as well as that of Hyundai Capital and Hyundai Commercial, the group’s financial sector has shown an exponential growth.

The total sales of the three financial affiliates as of last year was 5.8 trillion won ($5.2 billion), up 140 percent from 2004.

Chung is also recognized for the company’s signature cultural projects, varying from the Hyundai Card Super Concerts to its series of libraries, such as the Design Library, Travel Library and Music Library.



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