Hyundai Chief Wins U.K. Prize for Turning Carmaker Around

Hyundai chairman Chung Eui-sun has won the Issigonis Trophy from Autocar magazine of the U.K.

Autocar may be the world's oldest vehicle magazine and each year presents the accolade named for creator and engineer Alec Issigonis, who designed the early Mini.

Past winners include Toyota CEO Akio Toyoda in 2018, Daimler CEO Dieter Zetsche on 2019, and Volvo CEO Håkan Samuelsson on 2020.

"In the last 10 years [Hyundai] is continuing to grow into among the world's leading car organizations, and chairman Chung provides been key compared to that transformation," Autocar editor-in-chief Steve Cropley explained in a news release. "The transformation created by the company is usually unmatched in the market recently."

"Even while Hyundai and Kia had been considered unexciting funds brands with limited marketplace share just a 10 years ago, under [Chung's] leadership they have produced incredible progress, winning market show and customers with automobiles that are the meet of any mainstream rival," he added.

Cropley said Hyundai has "turn into a true industry innovator in both electric powered and hydrogen-powered automobiles. It is no longer trying to catch up to rivals: now various other car companies are chasing it."

"This is due to a collective effort by all staff and executives," Chung said. "We will continue steadily to contribute to human progress and generate more chances for our customers."

Chung officially became chairman of the group in October last year but have been running it for quite a while on his elderly daddy Chung Mong-koo's behalf.

As president of affiliate marketer Kia from 2005 to 2009, Chung junior turned the business around, and as vice chairman of Hyundai he successfully launched the premium Genesis manufacturer and high-performing N series of cars. Since 2018, when he started to be senior vice chairman, he has got aggressively invested in future mobility tasks such as for example eco-friendly self-driving cars and urban air mobility.