Wife of Late President Jung Mong-hun Inaugurated as Hyundai Group President

Hyun Jeong-eun, wife of the late Jung Mong-hun, chief executive board member of Hyundai Asan, took office as president of Hyundai Elevator, a holding company of Hyundai Group.

This was the first state completed by Hyundai Group’s management, which was entangled after president Jung’s decease.

Hyundai Elevator revealed that they selected and appointed Mrs. Hyun as the new president after having a temporary executive board meeting on October 21.

“Mrs. Hyun will be able to dominate Hyundai Group after taking over a voting right of Hyundai Elevator’s shares (18.5 percent), which belongs to president Jung’s mother, Kim Moon-hee (a director of Yongmoon educational institution) and shares of Hyundai Merchant Marine (4.9 percent), president Jung’s inheritance,” said a Hyundai persons concerned.

“I will do my utmost for Hyundai Group’s development in pursuance of the late president Jung Mong-hun’s will and take a course of action to operate each branch in a professional and responsible management system with boarder of directors as central figures,” said the new president Hyun after her inauguration.

Mrs. Hyun graduated from Kyeongki Women’s High School, Ewha Woman’s University, and the Graduate School of Fairleigh Dickinson University. She is also a director of the Girl Scouts Korea and took charge of a special advisory committee of feminine headquarters of the Republic of Korea National Red Cross.

It is very rare and unprecedented that a wife of the leader of a firm, instead of the son, succeeds to the management position.

Do-Young Kim nirvana1@donga.com