In his address at the 55th regular shareholders’ meeting on March 23, Jang Jae-hoon, CEO of Hyundai Motor, emphasized the company’s commitment to sustainable growth through continuous change. He predicted a challenging business environment due to high interest rates, economic slowdown, and raw material supply uncertainty.
To address the shift in consumer preferences, Jang pledged to optimize production and logistics to provide customers with desired products on time. He also promised to enhance financial programs to reduce the burden of purchasing new vehicles and offer certified used cars with high reliability.
Additionally, Jang outlined his strategy to strengthen Hyundai’s electric vehicle brand competitiveness with the launch of high-performance electric cars and expansion of local production systems in emerging markets. He also emphasized the importance of global collaboration in manufacturing innovation technology through the Hyundai Motor Group Innovation Center in Singapore.
The meeting concluded with the proposal of amendments to the articles of association to enhance shareholder rights and increase year-end dividends by 50%.