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Hyundai Motor Group promotes heir apparent

SEOUL — Hyundai Motor Group promoted heir apparent Euisun Chung on Friday to a role of overseeing the conglomerate, moving him a step closer to succeeding his octogenarian father as head of South Korea's second largest group. Chung, 47, who will assist his father and group chairman Mong-Koo Chung, was appointed as executive vice chairman to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement. Chaebols like Hyundai and Samsung Group, which have grown into global firms from the rubble of the 1950-1953 Korean War, are undergoing a transfer of power to third- or fourth-generation leaders. "In his new capacity, Executive Vice Chairman Euisun Chung will oversee the entire Group's operations, aiding and reporting to Chairman Mong-Koo Chung," the statement said. The appointment also comes as Hyundai battles tumbling profits, mounting pressure from activist shareholders to improve its governance, and amid South Korea's trade tensions with the United States that threaten to disrupt its production plans. "This is a good sign," Park Yoo-kyung, a director at Dutch pension fund APG Asset Management, said of the appointment. "This will enhance transparency about who is controlling the group and who is making key strategic decisions," she said. Generational shift The junior Chung, currently vice chairman of the group's crown jewel, Hyundai Motor Co, has stepped up in recent years, attending motor shows and government meetings with business leaders on behalf of his 80-year-old father who has made few public appearances. Shares in Hyundai Motor ended up 0.8 percent on Friday, and affiliate Kia Motors fell 0.3 percent in a wider market that rose 1.4 percent. Chairman Chung, the all-powerful boss, has presided over Hyundai for about two decades, transforming the company into the world's fifth-biggest car maker along with Kia Motors. Hyundai is now struggling to reverse slowing sales in China and the United States, where the company has suffered due to its delayed response to booming demand for SUVs. The appointment is part of an effort to "improve future competitiveness and secure future growth engines" at a time when the auto industry is undergoing major changes, the group said. The junior Chung has led the group's efforts to develop future vehicles such as autonomous and connected cars, as well as Hyundai's fledging premium brand Genesis.

Hyundai previews new Equus-replacing Genesis G90

Hot on the heels of the announcement of the new Genesis luxury brand, Hyundai is rolling out the first model in its lineup, the G90. Previewed in this image, the sedan will replace the Equus at the top of Hyundai's lineup and launches next month in Korea. It will wear the EQ900 badge in its home market. Penned in the company's new Prestige Design Division, the styling has obvious links to the new Genesis sedan (which will also get an alphanumeric nameplate) and the Vision G Coupe concept (which will likely lead to a production two-door). That means more straight lines than the curvier Equus, along with more upscale details. From the limited angles at which we're viewing it, the design appears to bear some similarities to other luxury automakers like Audi (around the headlights), Mercedes (at the tail), and even Bentley (towards the back of the greenhouse). The G90 will kick off the launch of the new Genesis brand much in the same way that Toyota launched the Lexus brand, Honda begat Acura, and Nissan gave birth to Infiniti. The G90 will be the first of six new Genesis models to launch by 2020. 'New Luxury' Takes Shape - Hyundai Motor Unveils Rendering of New G90 Hyundai Motor has revealed the first rendering of its new range-topping G90 luxury sedan, which is named EQ900 in Korea. The elegantly designed, technology packed G90 hints at the recently-launched Genesis brand's design identity and future direction. Woong-Chul Yang, Head of Hyundai Motor R&D Center and Vice Chairman of Hyundai Motor, said, "Genesis' new large luxury sedan G90 will deliver a concept of 'New Luxury' to our customers. The G90 sits at the pinnacle of the Genesis brand and demonstrates how we apply our human-centered values to give our customer true satisfaction in every aspect of the vehicle ownership experience." As the Genesis brand's flagship model, G90 is a blueprint for change and innovation that will distinguish the Genesis brand. Majoring on 'human-centered' technology combined with engaging driving dynamics, G90 boasts a raft of world-best safety features and technological innovations to set itself apart in the luxury market. G90 also showcases the Genesis brand's hallmark design style 'Athletic Elegance', interpreted by the newly-formed Prestige Design Division to bring graceful and profound elegance to G90's significant proportions.

Hyundai reveals refreshed Grandeur sedan in South Korea

Never heard of the Hyundai Grandeur? That's alright, because that's just the name the model uses domestically. Over here it's known as the Azera, but it's back in Korea where Hyundai has revealed a revised version of what is currently the company's largest front-drive sedan.
Compared with the previous Grandeur and even the recently redone Azera we know, the new model is marginally longer and benefits from a redesigned bumpers front and rear, a new grille, new LED fog lamps and upgraded equipment. Inside there's a reshaped center stack with upgraded HVAC controls and an eight-inch nav screen, and keeping it all on the straight and narrow are all the latest electronic aids you'd expect of a high-end model from a global automaker.
Whereas the Azera is offered here with a 3.3-liter V6 packing 293 horsepower and 255 pound-feet of torque, back home Grandeur buyers get a choice of the 2.4-liter Theta II four-cylinder with 187 hp and 178 lb-ft or a 2.2-liter diesel with 199 hp and 325 lb-ft.