– Sa-Gong Hyuk, 34-year old Head of Hyundai Corporation’s Australian Subsidiary
– Dedicated to the sale of ‘Korean forklifts’ in Australia, he resolved a challenge facing a partner who was looking to ‘expand its business areas’ by creating a new business.
There is a Generation MZer (Millennial + Gen Z) who is heading an overseas subsidiary at the age of 34. It is Sa-Gong Hyuk who is working for Hyundai Corporation, a general trading company. He took an idea that he came up with at the headquarters in Korea and brought it to fruition in Australia, ultimately elevating him to the leadership position. We listened to the story of Sa-Gong Hyuk, who has proved that age has nothing to do with rank.
Sa-Gong Hyuk was born in 1989 and turned 34 years old this year. In June 2014, he joined Hyundai Corporation, and in September 2022 – about eight years after joining the company – he became the first head of Hyundai Frontier Australia Holdings (HFA), a joint venture in Australia. Hyundai Corporation’s Australian Subsidiary and HD Hyundai XiteSolution’s (formerly Hyundai Genuine) general distributor in Australia each contributed half the funding to start the business of selling forklifts made in Korea.
Sa-Gong said, “Since I was appointed, I have been accumulating experience in dealing with the demanding environment by coping with the ever-changing business climate including currency fluctuations, interest rate hikes, and supply chain issues.” He also expressed his ambition, saying, “I will become a leader who does not miss out on new business opportunities by capitalizing on the competencies that I have developed over the years as well as my young and flexible mindset.”
He gave us his thoughts on the career journey leading to the top position in HFA, saying “My business idea originated from a situation where a capable partner (HD Hyundai XiteSolution) was thinking about expanding its business area. At first, I was very confused because I had no experience in this regard, but the idea of creating my own business was so fascinating that I could push it through to the end.”
Sa-Gong was appointed as the head of HFA in recognition of his credit in leading the project to establish the joint venture, traveling between Korea and Australia. He explained that when he worked in the construction equipment team at the headquarters, he focused on “diversifying profit models” in line with the company’s direction for new business development. Accordingly, he set a goal to enter the local dealer business and rental business and worked hard to develop a new business for three years.
Eventually, after a lot of hard work, Sa-Gong seized an opportunity to collaborate with the partner, HD Hyundai XiteSolution’s general distributor in Australia. The two companies formed a joint venture as they shared the same intention to establish a direct retail network and enter the rental business in the Sydney. First, he started selling forklifts through a network of local dealers across Australia, and Sa-Gong is now looking into how he can expand his business to the rental business in the future.
The Australian forklift market is worth about USD800 million (about KRW1.9 trillion). The market is showing a rapid growth trend, fueled by increasing online commerce and non-face-to-face transactions. On the other hand, competition is intensifying as companies of various nationalities such as Chinese and European firms are entering the market, but Korean forklifts are highly preferred for their excellent quality.
Sa-Gong said, “When I was appointed as the head of the subsidiary and experienced the Australian forklift market in person, I could see how fierce the competition was in the market. I learned a lot by watching various players striving to provide better prices and services than their competitors, which instilled a sense of crisis as well as a sense of attachment to the business.”
Sa-Gong went on to say, “Our goal is to consolidate Hyundai Corporation’s presence in the Australian market and grow to be one of the top 3 players,” emphasizing, “Our mid- to long-term goals are to complete the follow-up deals that we have planned and expand our business to become a stable and efficient all-around equipment distributor.”
Sa-Gong Hyuk, Head of Hyundai Frontier Australia Holdings (HFA)
Aju Business Daily November 14, 2023