"If there is no road, we must create one ourselves."
Chung Ju-yung, the honorary chairman of Hyundai Corporation, was brought to life through artificial intelligence (AI) during the company's 50th anniversary celebration. This event not only recalled the founder's message, a symbol of past export ventures, but also unveiled the company's vision for the next 50 years, shifting from a trading company to a combination of manufacturing and global local management.
Hyundai Corporation Group announced on September 30 that it held its 50th anniversary event on September 29 at the Grand Hyatt Seoul, attended by over 600 domestic and international employees and global staff. The event included a commemorative speech by Chairman Chung Mong-hyuk, the declaration of future visions, and a congratulatory message from the AI-generated Chung Ju-yung.
In the AI video, the honorary chairman revisited his founding philosophy of "nurturing the inside by earning from the outside." He emphasized the importance of continuing the pioneering spirit for Hyundai Corporation's next 50 years, stating, "What matters is whether we dared to challenge again amidst numerous failures."
Hyundai Corporation began in 1976 as Hyundai General Trading Company, serving as the overseas export window for the Hyundai Group. The company expanded its business scope through ventures such as the Drayton coal mine in Australia and the development of the Marib oil field in Yemen. Despite facing challenges during the foreign exchange crisis and undergoing a workout, it returned to the Hyundai Group in 2009 and established an independent management system after separating from the group in 2016.
Chairman Chung Mong-hyuk presented the first pillar of future growth as the "fusion of trade and manufacturing." The plan involves leveraging the existing trade network to expand direct production and acquire manufacturing companies.
Following the acquisition of automotive parts company Lucinova last year, Hyundai Corporation plans to continue pursuing acquisitions of mid-sized manufacturing companies both domestically and internationally over the next five years. Long-term, the company is also considering securing large manufacturing firms with significant influence in the global market.
The second pillar focuses on enhancing the "NEST" function innovation, which aims to develop overseas bases into de facto headquarters. Previously, regional overseas branches primarily supported the headquarters' operations, but moving forward, each region will be empowered to independently discover and invest in business opportunities.
Within three years, Singapore and Los Angeles will be developed into global headquarters, followed by Frankfurt and Tokyo within five years. Ultimately, the plan is to establish a system where ten regions, including China, Australia, the Middle East, South Asia, the Commonwealth of Independent States (CIS), and Latin America, will each function as headquarters.
The next 50 years envisioned by Hyundai Corporation is focused on moving away from being a "comprehensive trading company centered in Seoul." The goal is to integrate manufacturing with trade and grant business development and investment functions to overseas bases, creating a structure where multiple headquarters operate simultaneously.
Chairman Chung Mong-hyuk stated, "I want to create a first-class company that can change and grow in any environment, rather than a company that is temporarily number one. If the past 50 years were a history of challenges and pioneering, the next 50 years will be a time to turn the dream of becoming a century-old company into reality."
* This article has been translated by AI.
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