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Hoping for N. Korea Business to Resume
Chairwoman of Hyundai Group, Hyun Jung-eun’s New Year’s Message
Hoping for N. Korea Business to Resume
  • By matthew
  • January 15, 2010, 13:51
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Hyun Jeong-eun, Chairwoman of Hyundai Group presented major tasks in 2010 in her New Year’s message to employees. First, Hyun called for more effort to promote the takeover of Hyundai Engineering and Con-struction Co., Ltd. and expansion of business in North Korea. Hyun said, “The takeover of Hyun-dai Construction is a new growth dynamic to be secured for the Group’s future.” The Chairwoman also asked all employees to, “Work harder to develop business in North Korea, an important blue ocean promoted by the late Group President Jeong Joo-young.”

Hyun showed her strong belief in doing business in North Korea by saying, “While the suspension of trips to Geumgangsan Mountain and Gaeseong is painful, let us not stop hoping for their resumption.” Hyun asked employees to take pride in laying the foundations for reconciliation and unification of the country, adding, “The suspension of tourism will be a period for us to supplement missing nutrients. When tourism resumes, the fruition will be even greater thanks to our better services.”

Hyun presented the ‘Super Sales Initiative’ through which all subsidiaries are being asked to implement measures in order to improve sales. In 2009, Hyundai implemented TCR (Total Cost Reduction), an enterprise-wide cost reduction campaign to achieve the lowest cost base in the industry, as well as arranging the Performance Management System through Key Performance Index, Enterprise Resource Planning, and Risk Management System. The Chairwoman promised action plans for better compensation for improved sales, flexible business structure against rapid market changes, cultivation of sales experts, sales improvement programs, and better customer satisfaction.

Finally, Hyun emphasized ‘4T’, a new organizational culture representing trust, talent, tenacity, and togetherness. Hyun said that ‘4T’ would be shared by all Hyundai members in an attempt to develop Hyundai’ original spirit and vision.