Skip advert
Advertisement

‘Euisun Chung looks set to be the most powerful car person of the next decade’

Mike Rutherford thinks vice-chairman Euisun Chung holds the key to Hyundai and Kia's future

OPINION Mike Rutherford

You have to feel a bit sorry for poor ol’ Euisun Chung at the minute. OK, OK, he’s not that poor (personal wealth around $3billion) and he’s comparatively young (in his forties). But he’s a bit like Prince Charles in that, although he’s chugging along quite comfortably, he can’t yet inherit the top job, full responsibility, plus mega-salary package until his much-loved elderly parent abdicates or dies. You see, Euisun's dad is Mong-Koo Chung, who’s the closest thing that South Korea’s got to a king. 

Advertisement - Article continues below

The 81-year old is the hard-as-nails chairman and CEO of Hyundai-Kia-Genesis and has even more billions than his boy, who’s merely the group’s chief vice-chairman. This is despite the fact that the heir apparent has, in effect, just taken over the day-to-day running of the colossal organisation, while his old man spends more (but not all) days at home. 

Best hatchbacks to buy

Yet even before Euisun is crowned and allowed to sit formally on the Hyundai-Kia-Genesis throne, he’s making waves, doing a great job by bravely taking the group into areas it hasn’t previously occupied. Only last month he plonked almost $100million (for starters) into the coffers of Croatian hypercar manufacturer Rimac, because he correctly concludes it usually takes decades to turn a car brand from zero to hero. Although he believes he’s just about done that with Hyundai and Kia (less so with Genesis), it’s wiser to simply buy into an existing hypercar brand. 

Skip advert
Advertisement
Skip advert
Advertisement - Article continues below

Chung Jr knows better than anyone that he must soon possess a premium 4x4/SUV line-up(s). This explains his alleged interest in buying financially troubled JLR, which his rapidly expanding clan could easily afford to adopt and nurture.

More certain, though, is that Euisun will not enter into a mega-merger with a giant corporation such as Ford or Mercedes, who his dad and other family members had unsatisfactory dealings with in the past. The days of Hyundai-Kia needing help from supposedly superior US and German-based mainstream car makers are gone. 

Advertisement - Article continues below

But he’s willing to and is actively recruiting the world’s top car designers from Europe and elsewhere. (Soon to ‘retire’ Ian Callum CBE of Jaguar, please note) And, in recent days, Chung Jr has done an extraordinary deal with an Israeli company, which paves the way for ambulance services and other health professionals to receive the condition of drivers and passengers just seconds after they’ve been involved in accidents on the road.

Away from cars but still within his remit, Euisun Chung has set up a secret building for extreme blue-sky thinking from his in-house creatives. Rumour has it he fancies moving further into the communications industry to challenge arch-rival Samsung, and last week he vowed to have a high-speed hydrogen train up and running by 2020. Honest. 

If Chung Jr is doing all this genuinely game-changing stuff before he’s crowned king of the Hyundai-Kia-Genesis castle, imagine how ridiculously free-thinking and productive he’ll be when he is permitted to sit on the throne and wear that crown. The most significant and powerful car bloke of the next decade or two? Probably.

If you enjoyed this opinion piece then make sure to head to our opinions page to read more views from the Auto Express team...

Skip advert
Advertisement
Chief columnist

Mike was one of the founding fathers of Auto Express in 1988. He's been motoring editor on four tabloid newspapers - London Evening News, The Sun, News of the World & Daily Mirror. He was also a weekly columnist on the Daily Telegraph, The Independent and The Sunday Times. 

Skip advert
Advertisement

Recommended

Best new cars coming in 2024
Best new cars coming in 2024 - header image
Best cars & vans

Best new cars coming in 2024

There are some big new models from the likes of BMW, Citroen, Dacia, Ford, MINI, Skoda and more on the way in 2024
12 Mar 2024
Hyundai Casper: dinky electric SUV to ghost in as Citroen e-C3 rival
Hyundai Casper (camouflaged) - front 3/4
News

Hyundai Casper: dinky electric SUV to ghost in as Citroen e-C3 rival

Hyundai’s entry-level EV is rumoured to be arriving in Europe sometime this year
5 Feb 2024
Is there a place for hydrogen in the zero-emissions future? Hyundai has the answers
Hydrogen pump
News

Is there a place for hydrogen in the zero-emissions future? Hyundai has the answers

The Korean firm is forging ahead with hydrogen, showing off its latest hydrogen technology at CES 2024
12 Jan 2024
Part helicopter, part plane, all electric: Hyundai’s Supernal S-A2 is as quiet as a dishwasher and ready to fly
Hyundai Supernal S-A2 - front
News

Part helicopter, part plane, all electric: Hyundai’s Supernal S-A2 is as quiet as a dishwasher and ready to fly

Korean maker is expanding its mobility portfolio with new eVTOL personal transport
10 Jan 2024

Most Popular

Road tax set to rise in April: here’s how much more you’ll pay
Road tax documentation
News

Road tax set to rise in April: here’s how much more you’ll pay

Drivers with newer cars can expect to be paying roughly £10 more per year, a although the biggest gas guzzlers will fare the worst
26 Mar 2024
Posh new trim level for Dacia Sandero while the Sandero Stepway gets more power
Dacia Sandero - front
News

Posh new trim level for Dacia Sandero while the Sandero Stepway gets more power

Both the Sandero and Sandero Stepway ranges have been tweaked, gaining more safety features to meet the latest regulations
26 Mar 2024
Huge Audi new car blitz to bring us 9 models in 2 years
Upcoming Audi models - four-way image
News

Huge Audi new car blitz to bring us 9 models in 2 years

After a quiet few years, the German giant is gearing up for its biggest product onslaught to date
25 Mar 2024