Shareholders of Hyundai Motor approved the third term of the automaker’s vice chairman Chung Eui-sun’s board membership at its annual general meeting Friday.

As a registered board director of Hyundai Motor responsible for management issues, the heir apparent of the group is expected to spur the global launch of G90 (EQ900 in Korea), the first model of Genesis, its independent premium brand. 


Industry watchers said he will also focus on capitalizing on the carmaker’s green car projects and prepare for the launch of its performance-driven subbrand “N’’ next year.

Besides Hyundai Motor, junior Chung will serve on the board of other key affiliates of the group, including Kia Motors, Hyundai Steel and Hyundai Mobis.

Separately, the nation’s largest carmaker pledged to enhance interests of its shareholders at its AGM. For this, the company announced its so-called corporate governance charter, aimed at providing a “comprehensive” and “transparent” disclosure of its governance.

The charter, published both in Korean and English, consists of five categories -- rights of shareholders, board of directors, audit, stakeholders and disclosure -- elaborating on how each of them performs, is constituted and managed. 

By Seo Jee-yeon

(jyseo@heraldcorp.com)