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Hyundai Motor Group heir apparent named as vice chairman

Updated : September 14, 2018 09:34 AM IST

Hyundai Motor Group appointed heir apparent Euisun Chung as chief vice chairman on Friday, moving him a step closer to succeeding his father as head of South Korea's second largest conglomerate.
Chung, 47, will assist his father and group chairman Chung Mong-Koo, who promoted his son to respond to "deteriorating global trade issues and changes in competitive dynamics in major markets," Hyundai Motor Group said in a statement.
South Korea's government has called for reform of the country's family-owned conglomerates, known as chaebols.
Hyundai Motor Group heir apparent named as vice chairman
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