Seoul, Jan 6 The head of Hyundai Motor Group on Monday emphasised the importance of resilience, innovation and proactive preparation in facing future challenges expected from ongoing global risks, as well as anticipated rollbacks in the electric vehicle (EV) policies of the US.
At a group-wide New Year's Greetings event held at Hyundai Motorstudio Goyang, just north of Seoul, Euisun Chung, Hyundai Motor Group's executive chair, underscored that external risks and crises should not be feared but seen as "opportunities for growth."
"Without challenges, we risk becoming complacent, which is more dangerous than any external crisis," Chung said in his address to employees, reports Yonhap news agency. "External pressures can serve as catalysts for our growth."
Hyundai Motor Co. and its affiliate Kia Corp. are bracing for a tumultuous future in their American operations, as President-elect Donald Trump's transition team is reportedly seeking to get rid of the country's EV tax credit programme, part of the Inflation Reduction Act (IRA) introduced under the incumbent Joe Biden administration.
Chung noted that while 2024 was a relatively smooth year for the group, it is essential not to assume 2025 will be the same.
"Merely surviving cannot be a sound strategy," he warned, adding that retreating defensively during crises would only result in preserving the status quo rather than achieving progress.
Highlighting Hyundai's track record of overcoming past crises, Chung urged employees to embrace the challenges ahead with confidence. "Expressions like 'the perfect storm' should heighten our awareness and motivate us to confront challenges, not trap us in a pessimistic and defensive posture," he said.
In outlining his vision for 2025, Chung emphasised the need to go beyond simply mitigating risks by analysing their root causes and historical trends to turn them into growth opportunities.
Chung also pointed to Hyundai Motor Group's appointment of its first foreign CEO, Jose Munoz of Hyundai Motor, as a testament to its commitment to innovation and inclusiveness. "Nationality, gender, educational background or tenure will not determine leadership. It will be determined by capability," he said.
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