Chair Chung Ki-sun of HD Hyundai on the 31st called for creating "something that is ours" next year amid an uncertain business environment, through unmatched technology, fearless challenges, and a healthy organization.
In a New Year's address released on the 31st, Chung said accordingly, "As the United States moves to expand tariff measures, the global economy is reverting to protectionism, the China-led oversupply problem is still underway, and major competitor countries are pursuing mergers and alliances among corporations to bulk up and strengthen competitiveness, making this year's business environment truly foggy."
Chung assessed, "Even amid difficult internal and external conditions, we achieved meaningful results and became the fifth among domestic corporations to enter the '100 trillion won market cap club,' and HD Hyundai is positioning itself as 'a corporation that inspires trust in the market' and 'a corporation indispensable to the South Korean economy.'"
However, "China already leads us in quantitative terms such as order volumes, and is now pressing hard in qualitative terms as well, including quality and technological prowess," he said.
As countermeasures, Chung cited "unmatched technology and products," "fearless challenges," and "a healthy organization."
He said, "Technological superiority is never permanent," adding, "Through bold innovation, we must drastically improve quality, performance, and expense, while relentlessly creating technologies that can actually be applied in the field to maintain an overwhelming technological gap."
He continued, "In future new businesses where the group is currently focusing its efforts—AI, autonomous navigation, fuel cells, electric propulsion, battery packs, robots, small modular reactors (SMR), and offshore wind—meaningful results are emerging," adding, "We must secure fundamental technologies early, apply them to real products, and commercialize them."
As an example of "fearless challenges," Chung mentioned building a shipyard on what had been an empty stretch of sandy beach and simultaneously embarking on the construction of two ultra-large oil tankers. He also said, "In the Saudi Jubail Port project, we made a bold, unconventional choice by transporting jackets as tall as a 10-story building across more than 10,000 km of open sea," emphasizing that "we have created 'what only we can accomplish.'" He added, "If something is worth attempting even at the risk of taking chances, we want to create a culture where it can be discussed without hesitation and put into action."
He also said a strong organization is "one that produces results, while enabling its members to immerse themselves in their work and supporting their growth," adding, "I will take the lead in listening and communicating."
Finally, emphasizing safety as the group's core value, Chung said, "If the safety of all of us is not guaranteed, our efforts toward bold innovation and fearless challenges will all come to nothing. Please join forces, each and every one of you, so that HD Hyundai can become 'the safest workplace.'"