Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division

José Muñoz appointed as CEO of Hyundai Motor Company

Sung Kim appointed as President of Hyundai Motor Company

Jun Young Choi is promoted to President of Kia Corporation; and Kyoo Bok Lee is promoted to President of Hyundai Glovis

Appointment of new CEOs for the Group's affiliates,includingCheol Seung Baek,Hyundai Transys;Joon Dong Oh,Hyundai KEFICO; Hanwoo Lee,Hyundai E&C; Woo Jeong Joo,Hyundai Engineering

SEOUL,South Korea,Nov. 14,2024 -- Hyundai Motor Group (the Group) today announced key executive appointments for the year 2024 as part of its aims to solidify sustainable growth and better prepare for uncertainties in the global business environment.

This appointment reflects its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group's core competencies and strategically placing proven leaders with verified track records in key positions,the Group aims to strengthen organizational foundations and accelerate our future transformation.

Jaehoon Changis promoted to Vice Chair of Hyundai Motor Group – Automotive Division,effective Jan. 1st,2025,to further strengthen the future competitiveness of the Group's mobility business.

Jaehoon Chang,Vice Chair of Hyundai Motor Group - Automotive Division

Looking ahead,Chang will oversee the entire value chain,including product planning,supply chain management manufacturing,and quality assessment. He will optimize business operations across the automotive business while securing internal synergies and building foundational systems for cost and quality innovation to ensure sustainable future competitiveness.

José Muñozis appointed President and CEO of Hyundai Motor Company to advance global management framework and solidify customer-focused mobility innovation through diverse powertrain offerings,including electric,hybrid,ICE and hydrogen technologies,2025.

Jose Munoz,President and CEO of Hyundai Motor Company

As a result,Muñoz is appointed as the first non-Korean CEO of Hyundai Motor – identified as the ideal fit to further enhance the company's performance thanks to his merit-based management philosophy and his commitment to recruiting top global talent. Going forward,he is expected to enhance the company's global management systems and further elevate its stature as a leading global brand.

Sung Kim is appointed as President of Hyundai Motor Company to manage the business effectively through global economic uncertainties,2025.

Sung Kim,President of Hyundai Motor Company

As part of his appointment to enhance the company's Think Tank capabilities and better navigate various geopolitical challenges,Kim will oversee global external affairs,analyze and research domestic and international policy trends,and lead communications and PR initiatives. He will focus on increasing synergies across the company's intelligence functions,strengthening external networking and advancing global protocol capabilities.

Jun Young Choiis promoted to President of Kia Corporation from Head of Domestic Production Division and Chief Safety Officer (CSO). Kyoo Bok Lee,CEO of Hyundai Glovis,is promoted to President.

To strengthen sustainable management and accelerate business transformation,the Group has appointed Cheol Seung Baek as CEO of Hyundai Transys and Joon Dong Oh as CEO of Hyundai KEFICO.

To address challenges in the construction industry and accelerate fundamental improvements,the Group has appointed Hanwoo Lee as CEO of Hyundai Engineering & Construction Co.,Ltd. (Hyundai E&C) and Woo Jeong Joo as CEO of Hyundai Engineering Co.,Ltd.

* Editor's note: Appointment of all CEOs referenced are subject to approval by the relevant Group affiliate's Board of Directors

About Hyundai Motor Group

Hyundai Motor Group is a global enterprise that has created a value chain based on mobility,steel,and construction,as well as logistics,finance,IT,and service. With about 250,000 employees worldwide,the Group's mobility brands include Hyundai,Kia,and Genesis. Armed with creative thinking,cooperative communication and the will to take on any challenges,we strive to create a better future for all.

More information about Hyundai Motor Group can be found at:

http://www.hyundaimotorgroup.comor Newsroom: Media Hub by Hyundai,Kia Global Media Center (kianewscenter.com),Genesis Media Center.