Hyundai Motor nominates first foreign CEO amid Trump era

Jose Muñoz, left, president and CEO at Hyundai Motor, and Sung Kim, president at Hyundai Motor / Courtesy of Hyundai Motor Carmaker’s incumbent president promoted to vice chair By Lee Min-hyung Hyundai Motor has appointed Jose Muñoz, head of the carmaker’s U.S. business and global chief operating officer, as its first foreign CEO.

The move, announced during the carmaker's year-end management reshuffle on Friday, aims to proactively prepare for the upcoming term of U.S. President-elect Donald Trump.



Muñoz, who joined Hyundai Motor in 2019, has driven its robust sales performance particularly in the United States. The automaker spoke highly of his unmatched skills in profitability-driven management, which helped the company elevate its stature as a more trustworthy global brand, Hyundai Motor said. Under the leadership of Muñoz, the carmaker aims to tackle potential uncertainties under Trump’s second presidency and minimize possible political risks.

Trump will start his term in January 2025. The so-called "Trump risk" is widely forecast to weigh heavily on Korean automakers, as the unpredictable U.S.

leader warns of imposing higher tariffs on imported goods. Trump is also displaying outward pessimism on electric vehicles (EV) by threatening to cut any tax benefits to EV makers and battery firms. Chang Jae-hoon, promoted to Hyundai Motor Group's new vice chair, poses with the carmaker's hydrogen electric concept vehicle at a studio in Goyang, Gyeonggi Province, Oct.

31. Courtesy of Hyundai Motor However, Hyundai Motor seeks to enhance its vigilance against such risks by strengthening its team dealing with these uncertainties. “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,” an official at the carmaker said.

Aside from handling political uncertainties, he is also expected to enhance the company’s global management systems and keep advancing its global management framework by solidifying customer-focused mobility innovation, according to the carmaker. “Succeeding in this challenging industry requires excellence throughout the value chain, from design and engineering, to manufacturing, sales and service, along with a talented team that’s able to deliver every step of the way,” Muñoz said. In light of the emerging Trump risk, Sung Kim, adviser to Hyundai Motor Group, was also appointed president of Hyundai Motor in the latest reshuffle.

Last year, the company recruited Kim to level up its foreign networking activities, given his proven record as a diplomat. Kim served as a former U.S.

ambassador to Korea. “Kim will oversee global external affairs, analyze and research domestic and international policy trends, and lead communications and public relations initiatives,” the official from the carmaker said. “He will focus on increasing synergies across the company’s intelligence functions, strengthening external networking and advancing global protocol capabilities.

Hyundai Motor also promoted its President and CEO Chang Jae-hoon to vice chair of Hyundai Motor Group’s automotive division, in recognition of his strong management performance over the past four years. Chang is particularly recognized for laying the groundwork for the carmaker’s long-term competitiveness by spearheading the hydrogen initiative and the successful initial public offering of Hyundai Motor India last month..