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Hyundai Motor chief meets Lotte chairman for future mobility partnership

Hyundai Motor Chairman Chung Euisun (left) and Lotte Group Chairman Shin Dong-bin (Each company)
Hyundai Motor Chairman Chung Euisun (left) and Lotte Group Chairman Shin Dong-bin (Each company)
Hyundai Motor Chairman Chung Euisun on Wednesday held a meeting with Lotte Group Chairman Shin Dong-bin at Lotte Chemical’s advanced materials plant in Uiwang, Gyeonggi Province, according to news reports Wednesday.

The two chiefs reportedly discussed how to apply Lotte Chemical’s new materials under development to Hyundai Motor’s future eco-friendly vehicles such as electric vehicles and hydrogen vehicles.

However, neither Hyundai Motor Group not Lotte Group officials said they could confirm the details of the meeting.

The reported meeting with Shin is the latest example of Chung reaching out to the leaders of the country’s top conglomerates involved in future mobility. In July, Chung met SK Group Chairman Chey Tae-won at SK Innovation’s EV battery plant in Seosan, South Chungcheong Province. In June, Chung met LG Group Chairman Koo Kwang-mo at LG Chem’s Ochang battery plant in North Chungcheong Province in July and Samsung Electronics Vice Chairman Lee Jae-yong at SDI’s Cheonan battery plant in South Chungcheong Province in May to discuss an EV battery partnership.

In August last year, Lotte Chemical absorbed its wholly owned subsidiary Lotte Advanced Materials to expand its portfolio to high-value chemical products such as plastics used for the interior and the exterior of cars.

By Kim Byung-wook (kbw@heraldcorp.com)
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