Chung Eui-sun

Chung Eui-sun
Born	정의선 18 10, 1970
Birthplace	South Korea
Nationality	South Korean
Occupation	Executive Chairman and CEO, Hyundai Motor Group
Known for	Leadership of Hyundai Motor Group; President of World Archery Asia
Education	University of San Francisco (MBA)
Children	2

Chung Eui-sun (Korean: 정의선; Hanja: 鄭義宣; born 18 October 1970), also romanized as Euisun Chung, is a South Korean billionaire business executive who serves as the executive chairman and chief executive officer of Hyundai Motor Group, one of the world's largest automotive conglomerates. The only son of Hyundai Motor Group honorary chairman Chung Mong-koo, he rose through the ranks of the family-controlled enterprise over more than two decades before being inaugurated as chairman in October 2020. Under his leadership, Hyundai Motor Group has accelerated its investments in electric vehicles, autonomous driving, robotics, hydrogen fuel cell technology, and artificial intelligence. Beyond the automotive industry, Chung has served in leadership roles in international sports governance, notably as president of World Archery Asia. He is among the wealthiest individuals in South Korea, with Forbes estimating his net worth at approximately US$3.3 billion as of December 2024, ranking him the 10th richest person in the country.

Early Life

Chung Eui-sun was born on 18 October 1970 in South Korea. He is the only son of Chung Mong-koo, who would go on to lead Hyundai Motor Group as its chairman for two decades, and Lee Jung-hwa, who is deceased. The Chung family is one of South Korea's most prominent chaebol dynasties, with deep roots in the country's industrialization. His grandfather, Chung Ju-yung, founded the original Hyundai Group in 1947, which grew into one of the largest business conglomerates in South Korea, with interests spanning construction, shipbuilding, electronics, and automobiles.

Growing up as the heir apparent to the Hyundai Motor Group empire, Chung Eui-sun was exposed from an early age to the workings of one of South Korea's most consequential corporate enterprises. His father, Chung Mong-koo, took the helm of Hyundai Motor Company in 1999 and subsequently restructured the automotive arm into what became known as Hyundai Motor Group, which includes Hyundai Motor Company, Kia Corporation, and a constellation of parts suppliers and subsidiaries. The younger Chung's upbringing within this corporate dynasty positioned him for a career that would eventually see him assume control of the entire group.

The Chung family's business succession has been a subject of significant media and public attention in South Korea, where chaebol families play an outsized role in the national economy. As the sole male heir of Chung Mong-koo, Chung Eui-sun was long identified as the presumptive successor to lead the group, a process that unfolded gradually over many years through a series of increasingly senior appointments within the corporate hierarchy.

Education

Chung Eui-sun pursued his undergraduate studies at Korea University, one of South Korea's most prestigious private universities, where he earned a Bachelor of Business Administration (BBA). He subsequently continued his education abroad, obtaining a Master of Business Administration (MBA) from the University of San Francisco in the United States. This combination of domestic and international education equipped him with both a grounding in the South Korean business environment and exposure to Western management practices and global business perspectives, which would later inform his strategic direction for the group.

Career

Early Career at Hyundai

Chung Eui-sun began his career within the Hyundai corporate structure, gradually assuming positions of increasing responsibility across the group's various subsidiaries. His progression through the company followed a pattern common among chaebol heirs in South Korea, where successors are systematically rotated through different business units to gain a comprehensive understanding of the conglomerate's operations before assuming top leadership roles.

By the early 2000s, Chung had established himself within the group's management structure. His involvement in the company's operations grew in scope as Hyundai Motor Group expanded its global footprint during the first decade of the 21st century. During this period, his father Chung Mong-koo implemented a far-reaching quality improvement campaign that transformed Hyundai and Kia vehicles from budget offerings into competitive mainstream and, eventually, premium products in global markets.

Rise to Senior Leadership

Chung Eui-sun played an increasingly prominent role in shaping Hyundai Motor Group's product strategy and brand positioning. A 2012 report by Bloomberg News noted his involvement in the company's push to enter the luxury automobile market, describing efforts to challenge established European marques such as BMW. The article characterized the younger Chung's ambitions as central to Hyundai's strategy of moving upmarket, a direction that would eventually result in the creation of the Genesis luxury brand.

As the group's strategy evolved, Chung Eui-sun took on roles that gave him oversight of critical future-oriented business areas. He became involved in steering the company's investments in new mobility technologies, including electric vehicles, hydrogen fuel cells, and connected car technologies. These areas would become hallmarks of his eventual tenure as chairman.

His ascent within the corporate hierarchy continued throughout the 2010s, with appointments to key executive positions that signaled his impending succession. During this period, Hyundai Motor Group expanded its research and development capabilities, established new partnerships with technology companies, and invested in startups focused on autonomous driving, ride-sharing, and urban air mobility.

Inauguration as Chairman

On 14 October 2020, Chung Eui-sun was formally inaugurated as chairman of Hyundai Motor Group, succeeding his father Chung Mong-koo, who assumed the title of honorary chairman. The appointment was approved by the boards of directors of the group's key affiliates and marked the completion of a generational leadership transition that had been anticipated for years.

The World Archery organization, where Chung has held leadership positions, publicly congratulated him on the appointment, noting the significance of his new role at the helm of one of the world's major automotive groups.

Upon assuming the chairmanship, Chung articulated a vision for the group that emphasized a transformation from a traditional automaker into a comprehensive "smart mobility solution provider." He stated, "We need to create a virtuous cycle where all activities of Hyundai Motor Group contribute to people's lives, safety and happiness."

Strategic Direction Under His Leadership

Under Chung Eui-sun's leadership, Hyundai Motor Group has pursued an aggressive strategy of diversification and technological transformation. The group has made significant investments in several key areas:

Electric Vehicles: The group has expanded its lineup of battery electric vehicles under both the Hyundai and Kia brands, as well as the Genesis luxury marque. The introduction of the dedicated Ioniq sub-brand for electric vehicles and the development of the Electric-Global Modular Platform (E-GMP) have been central elements of this strategy.

Hydrogen Fuel Cells: Hyundai Motor Group has been one of the most active proponents of hydrogen fuel cell technology in the global automotive industry. Under Chung's direction, the group has continued to develop and market fuel cell vehicles and has pursued applications of the technology in commercial vehicles, including trucks and buses.

Robotics: The group's acquisition of Boston Dynamics, the American robotics company, was a signature move under Chung's leadership. The integration of Boston Dynamics into the Hyundai ecosystem has been part of a broader strategy to position the group in the robotics industry. In February 2026, reports indicated a leadership change at Boston Dynamics as part of Chung's evolving strategy for the robotics subsidiary.

Artificial Intelligence: Chung has positioned AI as a core competency for the group's future. In October 2025, he participated in a high-profile meeting with Nvidia CEO Jensen Huang alongside other major South Korean business leaders, including Samsung Electronics chairman Lee Jae-yong, in a gathering that underscored the growing convergence of the automotive and semiconductor industries around AI.

Urban Air Mobility: The group has invested in the development of electric vertical takeoff and landing (eVTOL) aircraft through its subsidiary Supernal, aiming to enter the emerging urban air mobility market.

Major Investments and Global Expansion

In February 2026, Hyundai Motor Group confirmed plans to invest 10 trillion Korean won (approximately US$7 billion) over five years in the Saemangeum area of Jeollabuk-do province in South Korea. The investment is targeted at AI, hydrogen technology, and robotics, reflecting the group's strategic priorities under Chung's leadership.

Chung has also overseen the group's continued international expansion. In early 2026, he visited India to mark the 30th anniversary of Hyundai's entry into the Indian market, inspecting local production facilities and advancing the group's localization strategy in one of the world's fastest-growing automobile markets.

The same month, Chung was among a delegation of South Korean business leaders, including Samsung's Lee Jae-yong, who met with the president of Brazil, reflecting the group's interest in expanding its presence in Latin American markets.

Sports Sponsorship

Under Chung's chairmanship, Hyundai Motor Group has maintained and expanded its involvement in sports sponsorship. In February 2026, Chung and professional golfer Tiger Woods renewed their partnership regarding the sponsorship and operation of PGA Tour events, continuing a relationship that has linked the Hyundai brand to one of golf's most prominent figures.

Personal Life

Chung Eui-sun is the only son of Chung Mong-koo, the honorary chairman of Hyundai Motor Group, and the late Lee Jung-hwa. He has two children. As a member of one of South Korea's wealthiest and most prominent chaebol families, his personal and professional life has been the subject of considerable media attention in South Korea and internationally.

As of December 2024, Forbes estimated Chung's personal net worth at approximately US$3.3 billion, ranking him the 10th wealthiest individual in South Korea. His wealth derives primarily from his and his family's shareholdings in Hyundai Motor Group and its affiliated companies.

Chung has maintained a relatively low public profile compared to some other South Korean chaebol leaders, with his public appearances largely focused on corporate events, industry conferences, and international business diplomacy.

Recognition

Sports Governance

Outside of his corporate role, Chung Eui-sun has been active in international sports governance, particularly in the sport of archery, which has a strong tradition in South Korea. He has served as president of World Archery Asia, the continental governing body for the sport. In this capacity, he has worked to promote archery across the Asian continent. Chung was re-elected as president of World Archery Asia, underscoring his continued commitment to the sport's development at the international level.

His role in archery governance has also connected his corporate activities with the sport, as Hyundai has been a significant sponsor of archery events worldwide. The World Archery organization publicly recognized his appointment as chairman of Hyundai Motor Group in 2020, noting the dual significance of his leadership in both the corporate and sporting spheres.

Industry and Business Recognition

As the leader of one of the world's largest automotive groups, Chung Eui-sun has been recognized as a significant figure in the global business community. Forbes has consistently included him in its rankings of South Korea's wealthiest individuals and in its global billionaires list. His strategic decisions, particularly regarding the group's pivot toward electrification, robotics, and AI, have drawn attention from industry analysts and business media globally.

Legacy

Chung Eui-sun represents the third generation of the Chung family to lead a major component of the Hyundai business empire, following his grandfather Chung Ju-yung, who founded the original Hyundai Group, and his father Chung Mong-koo, who built Hyundai Motor Group into a global automotive powerhouse. His tenure as chairman has been defined by an effort to transform the group from a conventional automaker into a technology-oriented mobility company, with investments spanning electric vehicles, hydrogen fuel cells, robotics, artificial intelligence, and urban air mobility.

The acquisition of Boston Dynamics, the massive investment programs in emerging technologies, and the strategic partnerships with companies like Nvidia represent a departure from the group's historical focus on manufacturing and mark an attempt to position Hyundai Motor Group for competitiveness in a rapidly evolving global mobility landscape. The 10 trillion won investment in the Saemangeum area announced in 2026 is emblematic of this approach, combining national economic development with the group's strategic technological priorities.

His leadership style has been characterized by a willingness to engage directly with global technology leaders and to pursue partnerships and acquisitions outside the traditional automotive supply chain. The high-profile meetings with figures such as Jensen Huang of Nvidia and the renewal of the Tiger Woods golf partnership illustrate the breadth of his engagement across industries and domains.

As executive chairman and CEO of a group that encompasses Hyundai, Kia, Genesis, and numerous technology subsidiaries, Chung Eui-sun's decisions continue to shape not only the trajectory of one of South Korea's largest conglomerates but also the broader direction of the global automotive and mobility industries.