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Hyundai Motor chairman meets Shandong Province governor

Posted August. 26, 2015 07:17,   


Hyundai Motor Group Chairman Chung Mong-koo met with Shandong Province Governor Guo Shuqing on Tuesday at Hyundai Motor headquarters in southern Seoul. Guo’s visit to Hyundai Motor follows his meeting with Samsung Electronics Vice Chairman Lee Jae-yong on Monday.

Chung and Guo met for an hour and talked about Hyundai Motor’s business collaboration with China and ways to expand investment there. Attending the meeting were Yang Woong-chul, R&D director and vice chairman at Hyundai Motor and Kia Motors, Shin Jong-un, quality director and vice chairman at Hyundai Motor and Kia Motors, and Kia Motors Vice Chairman Lee Hyung-keun. Hyundai Motor Vice Chairman Chung Eui-sun didn’t join due to other schedule. After the meeting, Guo visited Hyundai Motor’s Namyang Research Center. Guo was the head of China Construction Bank, vice governor of the People`s Bank of China, and China Securities Regulatory Commission. An expert in economics and finance, Guo is mentioned as one of candidates for the next governor of the People`s Bank of China.

Hyundai Motor operates Hyundai Powertech and Hyundai WIA plants in Shandong, and started building an automobile technology research institute in Yantai in Shandong Province. The institute, which is due completion at the end of this year at the earliest, is Hyundai’s first solo invested research institute. Previously, Hyundai Motor and Kia Motors have entered China through a joint corporation with a local company. It is also Hyundai’s fifth car research institute built overseas.