Family Feud at HyundaiThe feud between the two sons of Hyundai founder Chung Ju-yung is coming to a boil, after a disagreement over personnel at Hyundai Securities.
Hyundai is, far and away, Korea's largest company. The conflict is sensational news, with companies and individuals within the company taking sides.
The feud comes at a time when Hyundai is under pressure to reform its business practices, from both the government and the market. The highly-publicized battle between the two brothers is not helping in this transition.
The matter of who will lead the Hyundai group is now an internal issue, but with the influence of Hyundai over this country's economy, it is likely to become far-reaching.
It is a sad state of affairs for the second generation of the Hyundai Chungs. The family-run enterprise is at stake, and the entire nation is watching.
Hyundai should not be the possession of one person. The two sides should put personal issues aside, and concentrate on working together to repair Hyundai's out-dated management.
Hyundai should use this opportunity as a springboard for management reform, where more than just the family is involved. This is the only way for Hyundai and Korea's economy to thrive together.
by Noh Jae-hyun