Hyundai Capital announced on the 12th (Tuesday) that it has hired Jeong Hyung-jin, the current representative of Goldman Sachs Korea, as its new CEO. Jeong Hyung-jin is set to officially start his role in June.
With the appointment of the new CEO, Hyundai Capital plans to solidify its position as the exclusive financial service company of the Hyundai Motor Group and accelerate global business expansion through enhanced financial expertise.
Jeong Hyung-jin, the newly appointed CEO, started his career at Goldman Sachs in 1999 at the Seoul branch, later serving in various positions including head of the corporate finance department of the Seoul office and, since 2014, as the Korean representative at Goldman Sachs Seoul.
During his time at Goldman Sachs, Jeong Hyung-jin has been recognized as a global financial expert, possessing extensive experience and a strong network in the financial industry, advising both domestic and international corporations on investments and financial matters and facilitating major transactions.
Based on his exceptional expertise in global investment and finance, Jeong Hyung-jin is expected to accelerate Hyundai Capital’s global expansion and elevate its financial expertise, driving synergy between vehicle sales and financial services.
Since the management separation from Hyundai Card/Commercial in September 2021, Hyundai Capital has focused on enhancing its role as the exclusive financial service company of the Hyundai Motor Group. Hyundai Capital is continually expanding its overseas footprint in conjunction with automobile sales, such as establishing a local subsidiary in Indonesia, a key emerging market, in April this year, alongside initiatives in advanced markets like Italy and France. The company is also working on building a stable and diversified funding portfolio, as well as improving domestic and global credit ratings and increasing the proportion of overseas bond market issuances.
A representative from Hyundai Capital stated, “With the appointment of the new CEO, Hyundai Capital will actively support the expansion of global vehicle sales across various sectors, including leasing, subscriptions, and used cars. In light of the uncertain market conditions, including the sharp rise in rates for type B financial bonds, we expect Jeong Hyung-jin’s expertise to significantly contribute to managing liquidity and external risks, as well as strengthening strategic partnerships in local markets to spearhead new global business expansions.”
Lee Sang-jin daedusj@autodiary.kr