[REPORTER'S NOTEBOOK] Hyundai Motor's stock rally puts Munoz to test

The dramatic surge in Hyundai Motor's stock can be partially linked to CEO Jose Munoz's leadership since his appointment in January 2025. Throughout his tenure, he has encountered U.S. tariff pressure, increased competition, and a rapidly evolving automotive sector. Notwithstanding these challenges, Hyundai's stock has nearly doubled, climbing from approximately 220,000 won ($159) upon his arrival to 415,000 won as of Friday's closing bell.

Munoz has made notable strides in bolstering Hyundai's presence in the U.S., a market that has remained steadfast despite a 15 percent tariff. The company has also broadened its hybrid vehicle portfolio and increased local production within North America. Concurrently, Munoz has encouraged Hyundai Motor, Kia, and Genesis to collaborate more closely on various aspects such as engineering, manufacturing, purchasing, and distribution. This strategy has aimed to reduce costs and safeguard profits.

These initiatives have contributed to Hyundai Motor's robust sales figures, even amidst a challenging business climate. In the second quarter, the company recorded a record revenue of 49.2 trillion won. However, operating profit experienced a more than 20 percent decline from the previous year, partially attributable to the tariff challenges.