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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 releases series of KDM Genesis videos

We had plenty of nice things to say about the sleek, new Hyundai Genesis Sedan when we drove the Korean domestic market version late last month. And while we're still waiting to find out just when the new rear-driver will arrive in the US market, Hyundai's home-market operations have released a series of videos on the new sedan.
Now, unfortunately, all the videos are in Korean. While we haven't the foggiest idea of what they're actually saying, the eight videos in the series give a great look at the new Genesis Sedan in motion, as well as showing off some of the development process behind the newest member of the Hyundai family.
We've embedded all eight videos below for your viewing pleasure. Have a look below.

Hyundai Veloster N spied hard at work at the Nurburgring

The first vehicle from Hyundai's N performance division, the i30 hatchback, is coming later this year. Sadly, that handsome little five door isn't bound for the US. While the Korean automaker won't confirm what will be coming to America in 2018, we're almost positive that the first model will be the next-gen Veloster. The car is well into development, and we now have some new photos of a shakedown at the Nurburgring. Pure facts are scarce, but based on what we know about the i30 we can make some educated guesses about the Veloster. The car will be powered by a 2.0-liter turbocharged inline-four making either about 250 horsepower or 280 with an optional performance pack. Power will be sent to the front wheels through a six-speed manual, though Hyundai hasn't ruled out a dual-clutch transmission for the future. Look for big wheels with sticky summer rubber to surround beefy Brembo brakes. Although every Veloster we've seen both in photos and in person has been covered with a decent amount of camouflage, we can see the car's basic outline. The car will still feature an asymmetrical door layout, with one on the driver's side and two on the passenger side. The large grille is now shaped like the corporate cascading grille. It's styled like a flat-bottomed version of Superman's "S" logo. While the standard and Turbo models will feature center-exit exhaust tips, the Veloster N pushes the exhaust to the corners of the bumper. Pricing and performance numbers haven't been revealed, but Hyundai is gunning straight for the Volkswagen GTI. In typical Hyundai fashion, it's likely to undercut the competition by a hair or two. Look for prices in the mid $20,000s when the Veloster N arrives next year. Expect a full reveal sometime this fall. Related Video: Featured Gallery 2018 Hyundai Veloster N spy shots Image Credit: Spied Bilde Design/Style Spy Photos Hyundai Hatchback Performance hyundai veloster turbo Hyundai N hyundai veloster n