Euisun Chung resigns from Hyundai Steel board

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Euisun Chung resigns from Hyundai Steel board

Hyundai Motor Executive Vice Chairman Euisun Chung has resigned as director of Hyundai Steel to focus on Hyundai Motor, the company said Wednesday.

In a letter sent to its shareholders, Hyundai Steel said the company has named Vice President Seo Myung-jin as executive director. The appointment is subject to approval at a March 18 shareholder meeting.

“The executive vice chairman made the decision to put a bigger focus on the automobile business in line with the group’s drive to transform itself into a smart mobility solutions provider,” a group spokesman said.

Hyundai Steel has four executive directors, including the newly appointed Seo and company president, An Tong-il, the spokesman said.

Chung has served as executive director for the steel company since 2012 but has decided to quit the director post.

He will maintain his directorships at Hyundai Motor, Kia Motors and Hyundai Mobis.

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