Hyundai Motor Group Executive Chair awarded Order of British Empire

Hyundai Motor Group Executive Chair Euisun Chung, right, and British Ambassador to Korea Colin Crooks. [Courtesy of Hyundai Motor Group]

South Korea’s Hyundai Motor Group Executive Chair Euisun Chung was awarded the Order of the British Empire by King Charles III for his contributions to the economic and cultural exchanges between Korea and the United Kingdom despite the 8,852-kilometer distance between the two countries.

Chung is the first Korean to receive the honor since King Charles III’s ascension to the throne, which is even more significant as his grandfather had also received the same honor in 1977. Hyundai Motor Group announced on Tuesday that Chung was appointed as a Commander of the Order of the British Empire (CBE) at a ceremony held at the British Embassy in Jung District, Seoul. British Ambassador to Korea Colin Crooks presented the medal to Chung on behalf of King Charles III.

The Order of the British Empire recognizes individuals who have made a significant contribution to British society or achieved outstanding achievements in a variety of fields, including politics, economics, culture and arts, technology and science, and sports. Nominations are made by British government agencies, and recipients are selected after a rigorous examination by the British royal family.

Thirteen Koreans have received the Order of the British Empire to date, including Shin Dong-bin, Chairman of Lotte Group, Rim Kwan, former chairman of Samsung Advanced Institute of Technology, and Park Jin, Minister of Foreign Affairs.

Chung was recognized for his contribution to strengthening economic and cultural cooperation between Korea and the United Kingdom, including the promotion of eco-friendly, low-carbon mobility and his long-term support for Tate Britain, the U.K.’s national gallery of arts.

“Executive Chair Chung, as it has seen your forebears whom we have similarly honored, as an exemplar of this outstanding tradition of commercial and philanthropic leadership, one which has taken Hyundai Motor Group’s partnership with our country to unprecedented levels of collaboration,” Crook said. “It is my great honour to confer to you this evening the award of Honorary Commander of the Most Excellent Order of the British Empire—the first such award to a Korean national during the reign of His Majesty King Charles III.”

“I believe this honour has been bestowed upon me not for my individual service, but in recognition of Hyundai Motor Group’s contributions to our two nations’ cooperation and friendship,” Chung said. “We will further contribute to our bilateral cooperation in business, art, culture, sports, and public service.”

Chung’s grandfather, the late Founding Chairman Ju-yung Chung, was honored with the CBE title in 1977 for his services to trade between the two countries. In the early 1970s, the elder Chung formed a technical partnership with British engineering and shipbuilding firms, borrowed a loan from Barclays PLC to build a shipyard in Ulsan, and built Hyundai Motor Group into a global company. It is a famous anecdote that he secured the loan with a 500 won ($0.38) banknote depicting a turtle ship and won an order for a ship with only a photo of Ulsan’s white sandy beach without a shipyard.

Meanwhile, Hyundai Motor Group’s presence in the U.K. is growing after it first entered the U.K. market by exporting cars to the country in 1982. It sold 173,000 vehicles in the country between January and October 2023, up 8.7 percent from the same period last year and accounting for a market share of 9.2 percent. Hyundai Motor Co. and Kia Corp. are considered to have successfully established themselves in the U.K. automotive market, with leading automotive publications naming them U.K. Car of the Year.

Hyundai Motor Group is also working closely with the United Kingdom on a business level. It has recently been actively promoting its future advanced air mobility (AAM) business in partnership with British companies. Together with British aircraft engine manufacturer Rolls-Royce PLC, the group is researching hydrogen fuel cell propulsion systems and battery propulsion systems for aircrafts.

Analysts note that Chung is being recognized as a global leader as he was awarded the Order of the British Empire after previously winning an influential award in the automotive industry. In 2021, Chung won the Issigonis Trophy at the Autocar Awards 2021, the most prestigious award given by automotive media brand Autocar.