Hyundai’s fintech workspace blends the highly digital with the highly human

19.05.2019

Seoul – In 2003, Hyundai Card was bleeding money – the incoming CEO realized that, after only two years of existence, the company was set to lose more than 1.5 billion euros, as the South Korean market didn’t understand the product thoroughly. So instead of treating the new child of the Hyundai Motor Group conglomerate as a commodity, cutting costs everywhere, Taeyoung Chung placed a bet on the long game: he invested in the happiness and loyalty of its employees, increasing salaries by 10 per cent and producing big-budget marketing campaigns that spoke of the greatness of the product, the people behind it and the country's culture. Since then, the company behind the M Card has become a highly profitable jewel in the Hyundai chaebol.

 

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