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Chairwoman Hyun, jeong-eun`s New Year`s Greetings
Dear Hyundai Group Colleagues,

An eventful 2015 has now passed, and we welcome in the brand New Year of 2016. As we prepare and look forward to what lies ahead, I would like to express my sincere gratitude to the entire Hyundai family for your continuous efforts and dedication in the midst of challenging market conditions.

When we consider the past year, while we exerted great effort to overcome the difficult business environment, we realize that we were unable to achieve our goals in certain key areas. However, instead of dwelling on these difficulties, we instead are focused on how we can invest more energy, time, and commitment to achieve our objectives and rise again in the new year.

These days, the economic slowdown is weighing heavily on the minds of people around the world. Economic growth in both developed and developing countries has slowed, with the world’s financial status becoming more vulnerable and the price of raw materials weaker. This variability and uncertainty is expected to continue and become even more pronounced in the future to come.

In this economic context, the Chinese government recently declared a ‘New Normal’ label for the current landscape which while recognizing that economic growth may be slowing in macroscopic terms, highlights that changes in quality are accelerating. In short, the market is transforming itself and shifting in a new direction.

Here at Hyundai Group, it is important that we both recognize this shift as well as collectively plan and consider how we can achieve fundamental changes in our organization and raise our sustainability to grow not only in quantity, but, perhaps more importantly, in quality.
To guide this type of thinking among our staff and prepare for a new start in 2016, I would like to outline key directives we have established for the year:

First, we must restore our ‘core competiveness’ and ‘profitability’.

World leading companies that continuously make a profit are not afraid to take risks and try new approaches which result in new business opportunities.

The keys to profitability and success, however, principally rely on whether we possess the fundamental competitiveness and confidence to make drastic changes.

Thus, we need to secure and develop a sales force that can meet the needs of a new generation of customer, as well as upgrade our R&D division so that we can gain a technological competitive edge. In short, we need to establish new strategies to build new profit models for Hyundai Group.

Second, we must facilitate ‘self-management’ to overcome difficulties.

To cope and overcome the current crisis, we have all dedicated and sacrificed much. In order to ultimately achieve victory over the current difficult situation, we must also continue to maintain and hone our unique abilities.

Hence, I hope all of our employees at Hyundai Group practice and make a habit of strong ‘self-management’, regularly developing personal goals and management strategies to achieve great results.

Beyond just the personal, however, each Hyundai Group subsidiary also must seek to transform their corporate culture to facilitate organizational ‘self-management’ through active training programs and results-oriented recognition systems.

Third, we must pursue a ‘desire for the new’ as our internal motivation.

It is natural to be surprised, and even feel anxious, about the rapid and significant business environmental changes that are breaking down so many of the boundaries we once knew. However, we must rise beyond our trepidation and grasp how we can take advantage of these changes. I believe success in this area lies in pursuing a ‘desire for the new.’

For many years, world leading companies have been able to achieve success not by simply creating ‘new things or products’, but by seeking ‘newness and innovation’ as the core of their identities.

In the same way, I hope each of you moves beyond habitual or ‘one-off’ ways of thinking, and instead seeks to instill newness and innovation as the core of your identities, and ultimately, the foundation of our organization. To make this happen, special qualities will be required: insight that can see the invisible; courage that faces the truth without turning a blind-eye; a personality that is flexible and firm at the same time.

In addition, we should encourage the various opinions of people be shared and interconnected beyond organizational walls. Towards this aim, I ask managers of staff to lead your members in a way that they can open a new chapter with a desire for the new.

Lastly, we must fulfill our responsibilities in contributing to inter-Korean cooperation and coexistence.

After the August 25 inter-Korean agreements, non-governmental exchanges between North and South Korea have increased, and we successfully held a reunion for separated family members.

As North and South Korea build mutual trust and respect through ongoing interaction, I firmly believe the next chapter of history embodying peace and co-prosperity on the Korean Peninsula is growing closer to becoming realized.

Hyundai Group, as a true pioneer of inter-Korean economic cooperation, must be prepared at all times with a hope and positive mindset so that we can meet the needs of all people.

Dear Hyundai Group Members,

A bright New Year has just begun.

Just like the sun that takes away darkness and brings forth light, may this New Year help us overcome our current difficulties with fresh hope and a new start for the Hyundai Group.

Once again, I wish you and your families happiness, success, and health in 2016.

Warmest regards,

Hyun Jeong-eun
Hyundai Group Chairman

Title Date
Chairwoman Hyun, jeong-eun`s New Year`s Greetings 2016-01-04
Chairwoman Hyun, jeong-eun`s New Year`s Message 2015-01-02
Chairwoman Hyun, jeong-eun`s New Year`s Message 2014-01-02
Chairwoman Hyun, jeong-eun`s New Year`s Message 2013-01-02
Chairwoman Hyun, jeong-eun`s New Year`s Message 2012-01-01
Chairwoman Hyun, jeong-eun`s New Year`s Message 2011-01-01
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Chairwoman Hyun, jeong-eun`s New Year`s Message 2009-01-01
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