Hyundai conducts intra-group opinion poll to change corporate culture

[Courtesy of Hyundai]

SEOUL – In an effort to change its corporate culture, South Korea’s leading automotive group Hyundai is conducting a group-wide survey to gather employee opinions, especially when Chung Mong-koo speeds up the transfer of the company. direction to his only son.

Hyundai officials said a two-week email survey of 96,000 employees across the group’s 30 units began on May 5. It was not just a question of collecting employee opinions, but of seeking a radical change in the group’s deeply rooted corporate culture.

“The group has a deeply rooted culture of command and discipline for rapid decision-making. However, a radical change in the industrial structure causes a great sense of crisis that such a corporate culture hinders innovation,” said said a Hyundai official on condition of anonymity.

The official said the investigation raised “high expectations for substantial changes” among Hyundai employees, as Chung Eui-sun, the 49-year-old son and heir apparent to Chung Mong-koo, 80, conducted the investigation. a campaign to promote “open innovation”. and eliminate a conservative group culture.

Eui-sun gained media attention in June of last year when he wore cotton t-shirts, jeans and sneakers for his public appearance at the launch of Hyundai’s subcompact sport utility vehicle, Kona.

This year, the group sought to rationalize its complex governance structure and improve the transparency of its management. Last week, Eui-sun was appointed executive vice president to expand his control over the entire group.

Hyundai and a few other conglomerates are undergoing a generational change. Among the third and fourth generation members of conglomerate owners, Eui-sun has been cited by market watchers as a promising next leader who can properly run the auto group after his father retires.

Eui-sun obtained a bachelor’s degree in business administration from Korea University in 1993 and a master’s degree in business administration from the School of Business at the University of San Francisco in 1997. He gradually increased his stake in the group’s subsidiaries for a smooth succession, growing in experience and wisdom as chairman of Hyundai Motor’s sister company, Kia Motors, from 2005 to 2008.

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