Each year, individuals who have contributed greatly to automotive history are inducted into the Automotive Hall of Fame. The list of people inducted ranges from household names as well as those we've only read about in press releases. Since the Automotive Hall Fames was established in 1939, nearly 800 individuals from around the world have been inducted. This year, Hyundai Motor Company Chairman and CEO, Mong-Koo Chung is included in the 2020 Automotive Hall of Fame Inductees, making him the first Korean to join the ranks of automotive greats.
“Induction into the Automotive Hall of Fame is reserved for individuals who have created, shaped, and changed the mobility market. These individuals have exceeded in a way that stands out from their peers – they are responsible for a step change in innovation, business operations, and impact on consumers and the public,” said Hall of Fame president Sarah Cook.
According to the Automotive Hall of Fame, Chung is credited for his success in the Hyundai Motor Group. Through his leadership, Hyundai became Korea's largest automaker, and one of the world's largest automotive group. He is noted for various accomplishments at Hyundai including acquiring Kia and spearheading the group's growth in different regions all over the world. Aside from automobiles, he also created a highly efficient vertically integrated business structure that produces everything from steel to vehicles.
Prior to his induction to the Automotive Hall of Fame, Chung was honored with the Distinguished Service Citation Award in 2001. Joining him in the 2020 Inductees are Thomas Gallagher, Helene Rother, and Jay Leno. The 2020 Induction and Awards Ceremony will be held in Detroit at the MGM Grand Ballroom on July 23.