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Hyundai Motor Group SKKU CFO Trio 2015.10.29
이승한 Views : 7788 Attach ( 0 ) 게시글 내용 ‘3 Exceptions’ Hyundai Motor CFO... Unique in their expertise and forehandedness (3) In-depth Analysis on Hyundai Motor CFO Take over of Hyundai Construction, and KEPCO site purchase … taking the lead in solving weighty issues CFO Lee won-hee, ‘finance centric career’ since he first joined When it comes to Chief Financial Officer (CFO), 3 common things that other companies have are not in Hyundai Motor Group. First, there is no CFO who handles everything for the entire Group like how Samsung and LG does. Also, there is no one recruited from outside the Group. Finally, it is difficult to find a CFO in the Group who graduated from the so-called ‘SKY universities(Seoul National University, Korea University, Yonsei University).’ Instead, it is common place to find people with “finance centric careers.' Even CFO’s who worked partially in sales and marketing are non-existent. In this sense it is why Hyundai Motor’s CFOs take on the title of ‘Director of Finance & Economy’ rather than ‘Director of Business Management’ who is responsible for of finance as well as personnel and general affairs. They lead in tackling weighty issues such as the take over of Hyundai Engineering & Construction and the KEPCO site purchase with their expertise and tenacity. And through their effective financial operation they contributed to Hyundai Motor’s rise to the top 5th automobile manufacturer in the world. Independent finance and economy division system for each affiliate Hyundai Motor Group has no one CFO who controls everything in the group. CFOs of affiliates work independently. Rather than handle managing the finance from the group level, each company attends to its own accounting, cost control, investor relations(IR) and so on. When a project between affiliates or an investment plan needs to be controlled, Department of Planning and Coordination led by Vice-chairman, Kim Yong-hwan(59) intervenes. Won Jong-hun(54), Vice-president for financial affairs of Planning and Coordination serves as coordinator in affiliate matters. Hyundai Motor Group explains that the smooth operations are credited to the many financial experts in all the affiliates. In the 3 main affiliates of Hyundai Motor, Kia Motors, Hyundai Mobis, all CFOs who oversee finance started their careers at their respective affiliates. Hyundai Motor’s CFO is Lee Won-hee(55). Mr. Lee was born in Kimhae, in Gyeongsang-Namdo, graduated from Seoul’s Daegwang High School, majored in Business Administration at Sungkyunkwan University(SKKU). He received a Master’s degree in Accounting at Western Illinois University in USA. Ever since he joined Hyundai Motor in 1984, he worked in finance. Leading the financial team, global banking team and as a director of finance and economy at a US affiliate he eventually became Head of Finance and Economy of Hyundai Motors in Dec. 2009. In 2011 he was promoted to Vice President and finally as President in last August. Kia Motors CFO, Vice-president, Han Cheon-su(56) graduated from Department of Economy at SKKU. After joining Kia Motors, he moved to Hyundai Steel in 2007 and worked as a director and an executive director of finance management. After being the executive director of finance management of Kia Motors in 2013, he was promoted to Vice-President and has been working as Head of Finance and Economy for Kia Motors since late last year. Also, Hyundai Mobis’s CFO is from inside the company. Choi, Byeong-cheol(57), Vice-president of Hyundai Mobis was born in Yecheon, Gyeongsang-bokdo and graduated from Daechang High school and in 1987 from SKKU. He joined Hyundai Precision, the former Hyundai Mobis, and for nearly 30 years has been working in finance. Promoting growth through business restructuring Hyundai Motor Group’s CFOs are leading important M&A deals and business arrangements to promote the growth of the company. In April of last year, Hyundai Engineering and Hyndai AMCO were merged into Hyundai Engineering. Sep. of the same year, they led the purchase of KEPCO’s site which is now waiting for the construction to start on the new head quarters. Recently, they contributed in expanding the width to other businesses, other than auto-mobiles. Hyundai Motor Group took over Hyundai Construction in 2011, and in 2013, merged Hyundai Steel and COLD ROLLED(CR) department of Hyundai Hysco, finalizing the merger between the two affiliates by July. In the banking, they took over HMC Securities and Hyundai Life, asserting a countenance as a finance corporation.

Hyundai Motor Group SKKU CFO Trio 2015.10.29

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‘3 Exceptions’ Hyundai Motor CFO... Unique in their expertise and forehandedness
(3) In-depth Analysis on Hyundai Motor CFO

Take over of Hyundai Construction, and KEPCO site purchase … taking the lead in solving weighty issues
CFO Lee won-hee, ‘finance centric career’ since he first joined

When it comes to Chief Financial Officer (CFO), 3 common things that other companies have are not in Hyundai Motor Group. First, there is no CFO who handles everything for the entire Group like how Samsung and LG does. Also, there is no one recruited from outside the Group. Finally, it is difficult to find a CFO in the Group who graduated from the so-called ‘SKY universities(Seoul National University, Korea University, Yonsei University).’

Instead, it is common place to find people with “finance centric careers.' Even CFO’s who worked partially in sales and marketing are non-existent. In this sense it is why Hyundai Motor’s CFOs take on the title of ‘Director of Finance & Economy’ rather than ‘Director of Business Management’ who is responsible for of finance as well as personnel and general affairs.

They lead in tackling weighty issues such as the take over of Hyundai Engineering & Construction and the KEPCO site purchase with their expertise and tenacity. And through their effective financial operation they contributed to Hyundai Motor’s rise to the top 5th automobile manufacturer in the world.

Independent finance and economy division system for each affiliate

Hyundai Motor Group has no one CFO who controls everything in the group. CFOs of affiliates work independently. Rather than handle managing the finance from the group level, each company attends to its own accounting, cost control, investor relations(IR) and so on. When a project between affiliates or an investment plan needs to be controlled, Department of Planning and Coordination led by Vice-chairman, Kim Yong-hwan(59) intervenes. Won Jong-hun(54), Vice-president for financial affairs of Planning and Coordination serves as coordinator in affiliate matters.

Hyundai Motor Group explains that the smooth operations are credited to the many financial experts in all the affiliates. In the 3 main affiliates of Hyundai Motor, Kia Motors, Hyundai Mobis, all CFOs who oversee finance started their careers at their respective affiliates.

Hyundai Motor’s CFO is Lee Won-hee(55). Mr. Lee was born in Kimhae, in Gyeongsang-Namdo, graduated from Seoul’s Daegwang High School, majored in Business Administration at Sungkyunkwan University(SKKU). He received a Master’s degree in Accounting at Western Illinois University in USA. Ever since he joined Hyundai Motor in 1984, he worked in finance. Leading the financial team, global banking team and as a director of finance and economy at a US affiliate he eventually became Head of Finance and Economy of Hyundai Motors in Dec. 2009. In 2011 he was promoted to Vice President and finally as President in last August.

Kia Motors CFO, Vice-president, Han Cheon-su(56) graduated from Department of Economy at SKKU. After joining Kia Motors, he moved to Hyundai Steel in 2007 and worked as a director and an executive director of finance management. After being the executive director of finance management of Kia Motors in 2013, he was promoted to Vice-President and has been working as Head of Finance and Economy for Kia Motors since late last year.

Also, Hyundai Mobis’s CFO is from inside the company. Choi, Byeong-cheol(57), Vice-president of Hyundai Mobis was born in Yecheon, Gyeongsang-bokdo and graduated from Daechang High school and in 1987 from SKKU. He joined Hyundai Precision, the former Hyundai Mobis, and for nearly 30 years has been working in finance.

Promoting growth through business restructuring

Hyundai Motor Group’s CFOs are leading important M&A deals and business arrangements to promote the growth of the company. In April of last year, Hyundai Engineering and Hyndai AMCO were merged into Hyundai Engineering. Sep. of the same year, they led the purchase of KEPCO’s site which is now waiting for the construction to start on the new head quarters.

Recently, they contributed in expanding the width to other businesses, other than auto-mobiles. Hyundai Motor Group took over Hyundai Construction in 2011, and in 2013, merged Hyundai Steel and COLD ROLLED(CR) department of Hyundai Hysco, finalizing the merger between the two affiliates by July. In the banking, they took over HMC Securities and Hyundai Life, asserting a countenance as a finance corporation.