Hyundai Motor Group Honorary Chairman Mong-Koo Chung Inducted Into Automotive Hall of Fame at Official Ceremony

• Honorary Chairman Chung becomes the first Korean to receive the accolade, industry's top honor
• Chung recognized for being driving force behind the Group's success, and a steadfast champion of the auto industry and the Korean economy
• Dedication to vehicle quality, global expansion of R&D and manufacturing network have been key to Chung's approach
• Hyundai Motor Group continues to pursue progress for humanity

DETROIT and SEOUL, South Korea, July 23, 2021 /PRNewswire/ -- Hyundai Motor Group Honorary Chairman, Mong-Koo Chung, has been officially inducted into the Automotive Hall of Fame at the 2020/2021 Induction and Awards Ceremony. The industry's top honor was presented to the class of 2020 at a celebration held at the ICON Convention Center in Detroit on July 22.

The induction ceremony was attended by Hyundai Motor Group Chairman Euisun Chung, who participated in Honorary Chairman Mong-Koo Chung's place. Chairman Chung received the induction trophy and made a speech on behalf of his father.

"Honorary Chairman Chung grew Hyundai Motor group into the world's fifth largest automaker from its humble beginning. If my father were here, he would say he owes this honor to our employees, dealers and fantastic customers," said Euisun Chung. "My father continued the legacy of my grandfather Ju-yung Chung, who founded Hyundai. He expanded the Group's presence globally and continued to pursue excellence in quality. He made the Group something that employees and customers can all be proud of."

Chairman Chung also did not forget to mention his vision for the future.

"As Hyundai embraces the challenges and the opportunities of the 21st century, we will continue to strive for excellence, challenge convention and lead the evolution of smart mobility. We will realize progress for humanity," said the Chairman.

The Automotive Hall of Fame also took note of Chung's many accomplishments, including:

• Acquiring Kia Motors Corporation into Hyundai Motor Group
• Spearheading the Group's growth with new plants in key regions, including United States, Europe, China, India, Brazil and Russia
• Creating a highly efficient, vertically integrated business structure that produces everything from steel to vehicles

The Automotive Hall of Fame was established in 1939 to honor notable business leaders who have contributed significantly to the advancement of the automotive industry and mobility. Chung becomes the first Korean to receive this honor, which was first announced in February 2020.

For more information about Hyundai Motor Group, please see: www.hyundaimotorgroup.com