Hyundai Chairman Indictment Blow to Company Morale, Future Plans

Chung Mong Koo

The arrest and indict­ment of Hyundai chair­man Chung Mong Koo has result­ed in the delay of two cru­cial projects in the US. The devel­op­ment of a rear dri­ve lux­u­ry sedan and an upscale SUV would help Hyundai reach its US sales tar­get, but com­pa­ny exec­u­tives are hes­i­tant to make strate­gic deci­sions with­out the guid­ance of their chair­man.