Hyundai Motor chief to withdraw from Kia Motors' board

SEOUL, Feb. 19 (Yonhap) -- The chairman of South Korea's largest carmaker is set
to withdraw from the board of its subsidiary, Kia Motors Corp., next month in an
organizational change that will help Kia gain overall independence from Hyundai,
Kia said Thursday.

Kia plans to drop Chung Mong-koo, also chairman of Hyundai Motor-Kia Motors
Group, from its five-member board, with Chung Eui-sun, the senior Chung's only
son, to remain, it said in a regulatory filing.
"It is about time for a needed change in our organization so Kia can secure
overall independence," the country's second-largest carmaker said.
The company will get the plan approved at a meeting of shareholders to be held
March 6.
Hyundai Motor has appointed the senior Chung and three others as members of its
board.
Chung has been at the helm of Kia to help it become more competitive since
Hyundai took over Kia in 1998.
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