Chang Jae-hoon, vice chairman of Hyundai Motor Group, received the Gold Tower Industrial Medal on behalf of Korea's auto industry, which is marking the 50th anniversary of its exports. It is the first time in 19 years since 2007 that the auto industry has received the Gold Tower Industrial Medal. Over the past 50 years, starting with the Pony in 1976, the industry has achieved the milestone of 76.55 million vehicles exported.
The Ministry of Trade, Industry and Energy (MOTIE), the Korea Automobile & Mobility Association (KAMA), and the Korea Auto Industries Cooperative Association held the 23rd Automobile Day ceremony at the JW Marriott Hotel in Seocho, Seoul, on Monday, presenting government commendations to 36 honorees.
This year's event was held under the theme "50 Years Led by Exports, a New Leap Toward a 100-Year Future," marking the 50th anniversary of Korea's automobile exports. Automobile Day was designated in 2004 to commemorate the cumulative export of 10 million vehicles achieved on May 12, 1999.
At the ceremony, Chang Jae-hoon, vice chairman of Hyundai Motor (005380) Group, received the Gold Tower Industrial Medal, the top-grade industrial medal. The Gold Tower Industrial Medal is the highest of the five tiers of industrial medals awarded to business leaders who have contributed to the development of national industry.
Chang was recognized for leading the future mobility paradigm through large-scale domestic investment and securing core technologies. He is spearheading the 125.2 trillion won domestic investment that Hyundai Motor Group announced last year, and is driving initiatives including robotics and hydrogen as future growth engines, as well as expanding production bases such as the new dedicated electric vehicle plant in Ulsan.
"The Gold Tower Industrial Medal belongs to all Hyundai Motor Group employees who have quietly done their best amid an uncertain environment," Chang said. "Amid an unprecedented industrial transition where electrification, AI, and robotics are being reshaped simultaneously, Hyundai Motor Group will lead the change and drive a new leap for Korea's auto industry."
In a Q&A session with reporters after the award, Chang said, "The role that automobiles must play as a platform industry has become more important." He added, "In that context, this Gold Tower Industrial Medal came after 20 years, and I consider it a medal for the entire auto industry."
The Silver Tower Industrial Medal went to Ham Sang-sik, CEO of MR Infra Auto, who developed fine blanking technology that precisely cuts and processes metal sheets, contributing to the localization of precision components. The Bronze Tower Industrial Medal went to Hwang Ki-young, CEO of KG Mobility (003620), who pioneered new overseas markets centered on eco-friendly sports utility vehicles (SUVs). Industrial Service Medals were awarded to Lee Jong-ha, executive at Hyundai Mobis; Kim Hyun-cheol, research fellow at the Korea Automotive Technology Institute; Jang Gil-jae, executive at GM Korea; and Min Seung-jae, professor at Hanyang University.
According to KAMA, the cumulative number of vehicles exported from the first shipment in 1976 through April this year totals 76,548,569. Lined up, that would wrap around the Earth about nine times. The record was set 50 years after Hyundai Motor exported six domestically produced Pony sedans to Ecuador in June 1976.
On a cumulative basis, exports first crossed the 10 million mark in 1999 at 11,073,814 vehicles, then set successive records of 22,541,604 in 2005, 30,720,927 in 2008, and 41,964,238 in 2012, adding 10 million units at a time. Subsequently, the total reached 51,090,839 in 2015, 61,093,781 in 2019, and 70,087,640 in 2023, adding 10 million every four years. If this pace continues, the industry could reach the 80 million mark next year.
"The auto industry stands at an important turning point that goes beyond being a key driver of Korea's economic development to leading global mobility," KAMA Chairman Chung Dae-jin said. "To establish itself as a global leader amid intensifying competition in future vehicles, the industry needs continuous innovation and challenges, including securing a domestic production base and building a shared ecosystem through expanded R&D and investment based on public-private cooperation."
