Euisun Chung speaks at the introduction of the 2017 Hyundai Genesis G90 at the North American International Auto Show in Detroit, Michigan on Jan. 11, 2016.
Rebecca Cook/Reuters
The heir apparent of Hyundai Motor Group said on Wednesday he will complete a restructuring in 2019 as he moves to formally take over from his father at the helm of South Koreas second-biggest conglomerate.
Euisun Chung made the comments in his first New Year address to employees in the absence of his 80-year-old father, the clearest sign that he is now in charge of the group as it plans its first leadership transition in about two decades.
The transition comes at a difficult time for the group as Hyundai struggles with an extended sales slowdown in the Unite…
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