Chairman Chung Mong-Koo wins prize from U.S. automotive industry

Chung Mong-Koo, chairman of Hyundai Motor and Kia Motors, received the prize for contribution to the automobile industry of the year by the Automotive Hall of Fame at the annual meeting of the National Automobile Dealers Association (NADA) of the United States in Las Vegas on Feb. 4.

The award committee of the Automotive Hall of Fame said that day, ¡°In 2000, the company¡¯s export performance (453,000 units) has increased 50 percent compared with the previous year, and we also highly value the early normalization of Kia Motors.¡±

The contribution prize is given to the company that is chosen among many companies recommended from all over the world in the nine fields such as management, marketing, research and development, and so on.

Chairman Chung is the first awardee in Korea. The Automotive Hall of Fame was established for the development of the automobile industry worldwide in 1939.

¡°We will review the plan to construct a local plant when Hyundai and Kia motor will reach the export performance of 500,000 units in the North America Market,¡± Chairman Chung said in a meeting with reporters, adding about the cooperation with Daimler Chrysler: ¡°Hyundai and Daimler Chrysler will continue to keep cooperation in the engine development. And regardless of collaboration with Daimler, world-car will be produced on a full scale basis at Ulsan Plant No. 1.¡±

Kim Dong-Won daviskim@donga.com