Lee Dong-seock, the CEO of Hyundai Motor Company, noted, “We will invigorate the industry through maximum production by the end of the year.”
On the 17th, Lee noted during a special address to employees at the Ulsan plant, “The global economic downturn continues due to the impacts of the wars in the Middle East and Russia, and the largest sales market, the United States, is facing the additional challenge of a potential 10% to 20% universal tariff.”
Lee stated, “The ongoing national confusion due to domestic political issues is deepening the uncertainty in the domestic market, as general consumer sentiment is shrinking and the economy is slowing down. Ultimately, both domestic and international risks are expected to have a direct impact on Hyundai.”
He added, “The best way to dispel external concerns is for each person to steadfastly continue their responsibilities and work hard. The tougher it gets, the more we must return to the basics, ensuring that the scheduled new models are perfectly produced on time to keep our promises to customers.”
Lee emphasized that it is time to show Hyundai’s commitment to rebound through maximum production by year-end as the supply chain risk with parts suppliers is normalizing, stating, “Let’s take another step toward a better future based on Hyundai’s DNA of overcoming crises.”