Global automotive industry experienced unprecedented impacts due to the financial crisis triggered in 2008 and the bankruptcy of General Motors was a symbolic event. And an overview on earnings from the first half of 2012 for major automakers is indicating that the global automotive market is getting more competitive. The results of most automakers except Toyota, Honda and Volkswagen have plunged and the earning gap between winning and losing companies was augmented. Especially in Europe, the seismic center of recent fiscal crisis, the restructuring of non-German automakers is accelerating and various ways are pursued to improve structure. The outlook of 2013 is still blue due to the expansion of recess and economic vitality in major markets including US, China and emerging countries that have been relatively successful are expected to slowdown. For domestic market, low growth rate of early 3 % is expected.
The share of eco-friendly vehicles represented by hybrid and battery electric vehicles is recently stalemated due to lack of supply and some technical issues. Meanwhile EPA’s enforcement of stringent emission standard can be a breakthrough for eco-friendly vehicles to penetrate into the market. But it should be emphasized that affordability and improved performance are prerequisites for wide spread of eco-friendly vehicles. The megatrends in the automotive industry for upcoming decade can be presented with some keywords, such as, reinforcement of customer power, strengthening of environment protection, fast growth of emerging market and tendency toward protective trade. And the automakers will focus on answering to aforementioned challenges and variety of requests from customers through differentiation of products and services, diversification of powertrain and mobility and close collaboration with suppliers.
Research Activities or Achievements :
- Development of Hyundai-Kia Gasoline & Diesel engines
- Development of Vehicle Performance
Professional Experience :
1985 – Present : Hyundai Motor Co.
- M.S., Department of Mechanical Engineering, Seoul National University
- B.S., Department of Mechanical Engineering, Yonsei University