Hyundai Motor Announces Overseas Business Reorganization

USA - English

• USA - English

SEOUL, South Korea, June 18, 2018 /PRNewswire/ -- Hyundai Motor Company today announced organizational changes within its overseas operations, as the company grants greater autonomy to each region in an effort to spur sustainable growth and enhance innovation.

As a first step in its global business reorganization, the company has launched Hyundai Motor North America Headquarters, Hyundai Motor Europe Headquarters and Hyundai Motor India Headquarters, effective July 2. More overseas markets will be transformed into regional headquarters as the company aims to complete its global reorganization by 2019. These changes are in line with last October's restructuring at Hyundai's headquarters in Seoul, which saw the establishment of a Global Operations Division.

Each regional unit's responsibilities will extend across every aspect of the business, ranging from product planning, marketing, sales, and manufacturing. It will operate with greater integration, to actively respond to rapidly evolving market trends and customers' needs. Each regional headquarters will also have functional divisions for planning, finance, products and customer experience, so it can secure and optimize more effective decision-making systems within each region.

The regional groups, in close collaboration with corporate headquarters, will play a hub role to lead continuous innovation within each market and advance Hyundai's global business operations to the next level.

The newly-launched Hyundai Motor North America Headquarters will encompass Hyundai Motor Manufacturing Alabama, the company's production hub for the Americas, and three sales units – Hyundai Motor America, Hyundai Motor Canada and Hyundai Motor Mexico. Executive vice president Yong-woo Lee, will leave his current position as head of Hyundai Motor Brazil, to oversee operations of the newly established regional headquarters.

Hyundai Motor Europe Headquarters will expand Hyundai Motor Europe (HME)'s current role beyond sales operations, bringing under its wing Hyundai Motor Manufacturing Czech (HMMC) and Hyundai Assan Otomotiv Sanayi Ve Ticaret (HAOS: Turkey manufacturing joint venture). Dong-woo Choi, currently head of European Operations Division in Seoul, will take on the role as head of the new regional headquarters, and be promoted to executive vice president.

Hyundai Motor India Headquarters will support the company to further enhance operations in the market, under the leadership of executive vice president Young-key Koo, the current managing director of Hyundai Motor India.

Current HME president Hyung-cheong Kim will be promoted to executive vice president to take charge of the Global Operations Division at Hyundai's headquarters in Seoul.

About Hyundai Motor Company

Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond with its range of world-class vehicles and mobility services offered available in more than 200 countries. Employing more than 110,000 employees worldwide, Hyundai sold more than 4.5 million vehicles globally. Hyundai Motor Company continues to enhance its product line-up with vehicles that are helping to build solutions for a more sustainable future, such as NEXO – the world's first dedicated hydrogen-powered SUV. In 2018 the company revealed its new design philosophy 'Sensuous Sportiness', which will be embodied by all upcoming Hyundai vehicles.

More information about Hyundai Motor Company and its products can be found at: http://worldwide.hyundai.com or http://globalpr.hyundai.com

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SOURCE Hyundai Motor Company

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http://worldwide.hyundai.com