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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

Hyundai Motor heir meets China’s potential presidential candidates

  • PUBLISHED :November 10, 2016 - 18:05
  • UPDATED :November 10, 2016 - 18:05
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[THE INVESTOR] Hyundai Motor Vice Chairman Chung Eui-sun met three high-ranking political figures in China during his visit to the country, highlighting the emphasis the automaker places on the world’s largest automotive market.

According to Chinese media reports on Nov. 10, he met Sun Zhengcai, the party secretary of Chongqing, on Nov. 7, where the two discussed on the Hyundai Motor’s new Chongqing auto plant slated to open next year. He then met Chen Min’er, party secretary of Guizhou, to sign a MOU to jointly build a big data center for connected car technologies in the province. 




On Nov. 10, Chung met Hu Chunhua, the party secretary of Guangdong, along with Cisco CEO Chuck Robins, to discuss on the province’s development of the smart cities.

The three party chiefs are widely considered as the potential successors to incumbent President Xi Jinping. Hu and Sun are the youngest members of the Politburo of the Communist Party of China, the decision making body of the country, and also expected to be leading candidates for membership into the all-powerful Politburo Standing Committee.

Chen, known as confidant of Xi, has worked closely with Xi even before he assumed the presidency.

Chung’s meetup with the key political figures is likely to benefit Hyundai Motor’s advancement into China, in a country where networking and connections -- known as guanxi -- are a crucial part of doing business, industry watchers say.

By Ahn Sung-mi (sahn@heraldcorp.com)

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