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• Company overview
• Profile

Hyundai Profile

Hyundai Management Overview

• Management Vision

  
  

  Hyundai Motor Company achieved much in 2007 despite the challenging business climate. Numerous sections of the world media have praised Hyundai's high quality. Improvements in customer satisfaction and a continuous sales growth demonstrates Hyundai Motor's ability to increase its market share. Hyundai's success, watched closely worldwide, is a result of continuous and aggressive innovations that have been implemented on behalf of our customers. Customer satisfaction is our number one value. Hyundai Motor Company considers its most important mission to be bringing the enjoyment of elegance and confidence to its customers, rather than just selling products. Hyundai strives to bring its customers luxury and style. Therefore, Hyundai will continue to stabilize its global management by establishing an effective cooperation system among production bases around the world. Hyundai Motor Company's management goal in 2009 is customer–oriented management and continuous execution of global management. Large–scale investments made up to this point will materialize.
  
  For example, second plants in China and India will begin full operation, construction of plants in the Czech Republic will be completed, and construction of plants in Russia will commence. The focus will be on effective management and stable production operation bases in each area and maximization of sales and marketing goals.
  
  Best company! ´Best sales´ does not necessarily mean ´Best company.´ Being the best company is possible only if customers, the community, the environment, and the company are in harmony. Hyundai Motor Company has continued to engage in environmental management activities such as development of environmentally friendly technologies and clean production, in order to address environmental issues. In addition, Hyundai Motor Company is continuously striving to fulfill its obligations as a responsible enterprise - as a good 'citizen' - through social contributions to the communities we serve. Such a paradigm shift is possible because we are Hyundai Motor Company. Hyundai seeks innovation with global vision, challenges itself to embrace new company values, and continues to evolve with our customers.

  

  Competition among automobile companies throughout the world has been fierce. In spite of these conditions, Hyundai Motor Company has made a giant leap forward thanks to its advanced management philosophy, designed to ensure a better future for Hyundai Motor Company and its customers. This management philosophy has become even more solid since the inauguration of Mong–Koo Chung as Chairman and CEO in 1999. Trust and a hands–on management philosophy are the foundation of Hyundai Motor Company.
  
  Hyundai Motor Company is growing into a brand appreciated by its customers because it is continuously striving to achieve the single goal of making good quality products with an emphasis on the customer first principle across all management levels, including production, sales, and service. Moreover, Hyundai Motor will continue building its brand image as a top global automobile company by handling every task with transparency and fairness from the perspective of business ethics. Marching into the future through the move forward and growth. It will be reborn as a truly global company gaining a competitive edge in the global market.

  

  Further expanding its global reach, Hyundai Motor Company established its European manufacturing base through construction of a production plant with an annual capacity of 300,000 units in the Czech Republic in 2009. Additionally, the construction of the Russia plant with an annual capacity of 150,000 units is set for full operation from 2011, bringing a strong foothold in the European market. The plant in Brazil is expected to play a key role in reinforcing the Company’s market share in Central and South America.

  

  In 2009, Hyundai Motor Company succeeded in selling 2.4 million vehicles overseas, a meaningful accomplishment considering the global economic crisis. In particular, Elantra, Genesis, Genesis Coupe, Santa Fe, and Veracruz were recognized as the best and safest cars in their categories by leading agencies and the media in the US. Also, Hyundai achieved cumulative export sales of 1 million cars in Africa during the 33 years since it first began exporting to the region. Hyundai Motor Company pledges continuous growth by maximizing brand value in developed markets and expanding its sales capacity in emerging markets.

  

  The TAU 4.6 engine was selected as a winner of the 2010 10 Best Engines of the US automotive media Ward’s AutoWorld for the second consecutive year. Earning favorable reviews including the “engine’s velvety power delivery,” “aggressive tip-in,” and “a remarkable combination of satisfactory exhaust emission and amazing fuel efficiency,” Hyundai Motor’s high product quality was proven once again, this time in engine technology—the heart of an automobile. Hyundai Motor pledges to concentrate its technical capabilities and pay special attention to the development of high fuel efficiency-related technologies to become a true global environmental leader.

  

  Hyundai Motor Company was named Carmaker of the Year by AM, UK’s leading auto trade magazine, in the AM Awards 2010. Carmaker of the Year is awarded to companies that launch innovative vehicles that pioneer changes in the auto industry through continuous investment in R&D and advanced dealer network programs. Highly recognized for its sharp sales increase, first-rate dealership programs, and growth in brand awareness, Hyundai Motor Company beat other candidates including Ford, Jaguar, and Landrover to be selected as the winner of the coveted title. In 2008, UK’s Autocar selected Hyundai Motor Company as Automaker of the Year, praising Hyundai for having “grown into a top-class global automaker with its competitive products.”

  

  Once again, Hyundai Motor placed in the Top 100 Global Brands in 2009 based on a joint study conducted by Business Week and Interbrand. By enhancing Hyundai’s brand image through high quality products and unique marketing initiatives amidst the downturn in the automotive market, Hyundai Motor is steadily climbing the ranks since it first entered the Top 100 Global Brands in 2005. Hyundai will continue to strengthen its management and pursue the highest in quality so that “Hyundai Motor Company” will equal “global premium brand” in the minds of consumers worldwide.

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  Under the Board of Directors, there are the Audit Committee and External Director Candidates Recommendation Committee. We further established the Ethics Committee in 2007.

  

  The Board of Directors makes decisions on matters defined by the laws or articles of incorporation, matters delegated by the general shareholders´ meeting, and key matters related to the basic guidelines for company operations and work execution. Moreover, we have the authority to supervise duties of directors and management, and consist of four internal directors and five external directors. The Board of Directors holds regular meetings and special meetings, if necessary.

  

  The Audit Committee under the Board of Directors consists of four external directors. It is responsible for auditing finance and management of HMC. It has the authority to review reports on business management and financial status. The Audit Committee approves matters related to audit, the shareholders´ meeting, directors, and the board of directors. It can access business and management information for auditing.
  
  The External Director Candidates Recommendation Committee consists of two internal directors and two external directors. External directors should be recommended by the External Director Candidates Recommendation Committee. The 2007 Shareholders´ Meeting approved the directors´ compensation ceiling of 10 billion won. From January 1 to December 31, 2007, total compensation paid to internal and external directors was 7.737 billion won.

  

  We established the Ethics Committee, which monitors internal transactions and supervises transparency and ethics management. The Ethics Committee consists of five external directors, one executive, and two advisors. It reviews matters related to the Anti-Trust and Fair Trading Act, transactions between parties in special relations specified in the Securities Trading Act, voluntary compliance with fair trading regulations, policies on ethics management and social contribution, and the Ethics Charter.