▶ Appoints Former Congressman Ferguson, a Four-Term Veteran, as Head of Washington Office
▶ Part of Task Force for Tariff Response
Hyundai Motor Group is strengthening its organization to address the tariff policies of the Donald Trump administration. The group has established a task force team (TFT) directly under the CEO and appointed Drew Ferguson, a former Republican U.S. Congressman, to lead government affairs in the U.S., aiming to expand connections with the American political sphere.
According to the automotive industry on the 15th, Hyundai Motor conducted an organizational restructuring on the 14th, establishing the “U.S. Tariff Response Strategy TFT” under the office of President Jose Munoz. The task force is led by Vice President Lee Seung-jo, who concurrently serves as Hyundai’s Chief Financial Officer (CFO) and Chief Strategy Officer (CSO).
The newly formed TFT oversees Hyundai Motor Group’s strategies related to the tariff policies of the Trump-led U.S. administration. Previously, Hyundai’s government and external affairs in the U.S. were managed by President Sung Kim and Vice President Kim Il-bum of the Global Policy Office (GPO). However, as Trump’s tariff policies—divided into reciprocal and item-specific tariffs with varying rates by country—have become increasingly unpredictable, Hyundai decided to establish an additional organization to respond effectively.
Former Congressman Ferguson, appointed as head of the Washington office under Hyundai’s overseas government affairs organization GPO, is a four-term representative from Georgia. He will oversee communication between Hyundai Motor Group and the U.S. government and Congress. Additionally, he is expected to play a central role in fostering cooperation in not only the automotive sector but also broader future industries such as robotics and urban air mobility (UAM).
With the TFT at the forefront, Hyundai Motor Group is expected to navigate the complex business calculations arising from current U.S. tariff policies. The U.S. is Hyundai’s largest market, with 1.71 million vehicles sold last year, more than half of which are exported from South Korea.
However, with the U.S. recently imposing a 25% tariff on imported vehicles, formulating countermeasures has become urgent. Passing tariff costs to local consumers could dampen Hyundai’s strong U.S. sales momentum, while absorbing the costs would increase financial burdens. Challenges include addressing sales price issues due to tariff costs, determining how to share increased costs with dealers, and redistributing production across global factories.
The newly established TFT will analyze U.S. tariff policies and provide insights into future policy directions. It will develop scenario-based plans to mitigate tariff impacts and formulate strategies to optimize the supply chain using global production sites.
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