Creditors of the beleagured chaebol unit Hyundai Motor have demanded the resignation of chairman Chung Mong-koo, in line with a promise made by the firm this year. Kim Kyung-lim, president of the firm’s main creditor Korea Exchange Bank, said yesterday Chung Mong-koo should retire to keep Hyundai’s promise made to the public on May 31.
“Hyundai lost the people’s trust as it did not keep its promise. Consequently, Chung Mong-koo should resign following the path of Hyundai founder Chung Ju-yung and Hyundai Asan Chairman Chung Mong-hun who have virtually withdrawn from management,” he said.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
