Table of Contents
- 1 Speed is important to respond to the uncertain Trump era
- 2 We must hire a wide range of overseas talent and abolish old regulations.
- 3 Apart from benefiting from Jose Muñoz’s global experience, what specific steps can Hyundai take to foster a more “global mindset” amongst its Korean workforce and leadership?
CEO of Hyundai Motor Company, is being interviewed by Korean reporters at the ‘2024 LA Auto Show’ held at the Los Angeles Convention Center (LACC) in California, USA on the 21st (local time). [사진 현대차]” data-type=”article”/>
Jose Muñoz, Global Chief Operating Officer (COO), who was appointed as the next CEO of Hyundai Motor Company, is being interviewed by Korean reporters at the ‘2024 LA Auto Show’ held at the Los Angeles Convention Center (LACC) in California, USA on the 21st (local time). [사진 현대차]
Speed is important to respond to the uncertain Trump era
We must hire a wide range of overseas talent and abolish old regulations.
Jose Muñoz, Global Chief Operating Officer (COO) and President of North America Regional Headquarters (President), who was appointed as the next CEO of Hyundai Motor Company, said, “We will flexibly respond to the turbulent era with the spirit of ‘quickly, in advance’.” In a media interview in Los Angeles, USA, where the auto show was held on the 21st (local time), President Muñoz said, “One of the characteristics of Hyundai Motors is the ‘fast, quick’ culture, which is a great strength. “I developed this into a ‘quick, quick, early’ culture, and I will continue to utilize this spirit,” he emphasized. Quick, quick was the driving force behind rapid growth, but it also had side effects, symbolized by poor construction. Because of this, various regulations were created. However, ahead of the inauguration of U.S. President-elect Donald Trump, uncertainty in the global industry has increased, and key technologies such as artificial intelligence (AI) are evolving by the minute. As President Muñoz said, if you prepare in advance, being fast is a huge competitive advantage.
Now, the People Power Party has proposed a special semiconductor bill that would create an exception for 52 hours a week in the field of semiconductor research and development, but the Democratic Party of Korea is negative. It would be easy to think that we have done well at our current level. If these regulations are not removed, companies will not be able to prepare in advance or speed up the pace. We need to reflect on whether we are giving up our strengths because of outdated notions.
There is a need to hire a wide range of overseas talent. President Muñoz, who is from Spain and worked at Toyota and Nissan, joined Hyundai Motors in 2019 and contributed to expanding its presence in the U.S. market. The selection of a foreigner well-versed in the U.S. market as CEO during Trump’s second term can be evaluated as an unconventional preemptive measure. It is difficult for a country that makes its living through exports to survive in the global market if it insists on pure-blood policy. As seen in the cases of Tesla’s Elon Musk (South Africa) and Nvidia’s Jensen Huang (Taiwan), in the United States, top talent leads innovation regardless of their origin. Following national soccer coaches like Guus Hiddink, Korea has now appointed CEOs of large corporations.
President Muñoz also introduced the fact that Hyundai Motor Chairman Eui-sun Chung had asked, “I wish I could spend more time working in Korea.” He said, “In the future, I think I will spend 70% in Korea and 30% in other continents, such as the United States,” and added, “Synchronization and understanding on the same level as executives and employees is important.” The success of a foreign CEO is not only a matter of individual capabilities, but the domestic environment and atmosphere that accepts it is also important. A foreign CEO’s perspective and communication style may not always be accepted. The frequencies must be matched together. This is why an open attitude based on global standards is essential. We hope that Hyundai Motor Company and President Muñoz’s new experiment will provide fresh stimulation to other domestic companies.
![[사설] Reflections from Hyundai Motor Company’s foreign CEO who emphasized ‘quickly, quickly, in advance’](http://suzygoodrick.com/wp-content/uploads/2020/03/What-to-include-in-detail-photos_0013-1024x683.jpg "[사설] Reflections from Hyundai Motor Company’s foreign CEO who emphasized ‘quickly, quickly, in advance’")
Apart from benefiting from Jose Muñoz’s global experience, what specific steps can Hyundai take to foster a more “global mindset” amongst its Korean workforce and leadership?
## World Today News Exclusive Interview: Hyundai Motor’s Future and the Importance of Global Mindset
**Introduction:**
Welcome to World Today News. Today we have the privilege of discussing Hyundai Motor Company’s future with two esteemed guests. Joining us is [Guest 1 Name], an expert in the automotive industry, and [Guest 2 Name], a specialist in international business and corporate strategy.
The recent appointment of Jose Muñoz as the next CEO of Hyundai Motor has generated significant interest, particularly his emphasis on speed, adaptability, and a global mindset. We’ll be delving into these topics and exploring their implications for Hyundai and the broader Korean business landscape.
**Section 1: The “Quick, Quick, Early” Culture**
* **Host:** Mr./Ms. [Guest 1 Name], Hyundai’s new CEO emphasizes a “quick, quick, early” culture. How does this philosophy align with the fast-paced changes we’re witnessing in the global auto industry, particularly with advancements in technologies like AI?
* **Host:** Mr./Ms. [Guest 2 Name], some argue that prioritizing speed can sometimes lead to compromising quality or overlooking essential details. How can Hyundai successfully balance agility with the need for meticulous planning and execution?
**Section 2: Regulatory Flexibility and Global Competitiveness**
* **Host:** Mr./Ms. [Guest 1 Name], the article mentions the need to abolish outdated regulations to maintain competitiveness. Can you elaborate on how inflexible regulations can stifle innovation, particularly in rapidly evolving sectors like the automotive industry?
* **Host:** Mr./Ms. [Guest 2 Name], the debate around labor regulations in Korea is complex. How can we strike a balance between protecting workers’ rights and fostering an environment that encourages businesses to innovate and compete on a global scale?
**Section 3: Embracing Global Talent**
* **Host:** Mr./Ms. [Guest 1 Name], the appointment of a foreign CEO like Jose Muñoz signals a bold move by Hyundai. What are the potential benefits and challenges associated with embracing diversity and a global perspective at the highest levels of leadership?
* **Host:** Mr./Ms. [Guest 2 Name], some argue that prioritizing national talent is crucial for economic development. How can Korea best leverage the benefits of both domestic expertise and global talent to drive innovation and growth in the future?
**Section 4: Building a Culture of Adaptation and Collaboration**
* **Host:** Mr./Ms. [Guest 1 Name], how can Hyundai ensure a smooth transition and foster open communication between Jose Muñoz and the existing Korean team, considering cultural differences and potentially different working styles?
* **Host:** Mr./Ms. [Guest 2 Name], what lessons can other Korean companies learn from Hyundai’s decision to appoint a foreign CEO? What are the key factors that contribute to the successful integration of global talent into Korean business culture?
**Conclusion:**
* **Host:** Thank you both for sharing your valuable insights. We’ve explored some crucial aspects of Hyundai Motor’s future, highlighting the importance of adaptability, global collaboration, and a willingness to challenge traditional norms. We look forward to witnessing how these strategies will shape the company’s future and its impact on the Korean economy and the global automotive industry as a whole.
