Ryu Seok-mun, CEO of Hyundai AutoEver, said on the 26th that the company will raise the level of technology and quality this year to back Hyundai Motor Group's transition into a software-centered mobility corporations.
Ryu said this at the 26th annual general meeting of shareholders held at Dongil Tower in Gangnam-gu, Seoul, saying the company will advance its identity and capabilities as a mobility tech company.
Specifically, the company plans to expand its business around the two pillars of enterprise (for corporations) IT and in-vehicle software, and to strengthen its digital-based technology business by establishing a security response system at a global level.
Regarding last year's business, Ryu said it was a year in which the company achieved stable performance growth across all institutional sector and recorded high growth in corporate value. Hyundai AutoEver posted revenue of 425.21 billion won and operating profit of 255.3 billion won last year, up 14.5% and 13.8%, respectively, from a year earlier, marking the best results since its founding.
Hyundai AutoEver livestreamed this meeting for shareholders for the first time. At the shareholders meeting, all agenda items, including approval of the financial statements, partial amendments to the articles of incorporation, appointment of inside directors, and appointment of outside directors to serve as Audit Committee Commissioners, were passed as originally proposed.
Hyundai AutoEver aligned its internal rules with the enforcement of the amended Commercial Act, including deleting the provision excluding cumulative voting. Kim Doo-hoon, head of the ICT Business Division (executive director), and Kim Jeong-won, head of the Finance Division (executive director), were each appointed as new inside directors.
Choi Won-sik, CEO of LPV&Co, was newly appointed as an outside director and Audit Committee member. Choi previously served as head of McKinsey & Company's Korea office and is an expert who has developed strategies in mobility and high-tech sectors at home and abroad. With Choi's appointment, the number of outside directors at Hyundai AutoEver increased from four to five.
This year is expected to be the first performance test for Ryu. After joining Hyundai AutoEver in 2024, Ryu led the SW Platform Division and was appointed CEO in Dec. last year.