Hyundai Design Guru Invokes Spirit of Jimi Hendrix

October 31, 2013, 6:15 PM

Hyundai Design Guru Invokes Spirit of Jimi Hendrix

By In-Soo Nam

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Hyundai Motor Group Chief Design Officer Peter Shreyer at a lecture on auto design in Seoul on Wednesday.

Quick, what’s Kia’s brand image? Hyundai’s? If you didn’t get past “Korean” or “relatively inexpensive,” you’ll probably see why Hyundai Motor Group’s Chairman Chung Mong-koo says the company needs to urgently build up car buyers’ awarenessof its two brands.The chief designer for both Kia and Hyundai, Peter Shreyer, understands his boss’s urgency, but his approach is anything but hasty.

“We need to develop our brand piece by piece,” he said at a lecture on car culture and brand building at the Hyundai Card Design Library in Seoul on Wednesday. “We need to allow a little bit of patience. You cannot go into Formula 1 this year and win the championship next year. That’s impossible.”

What do Jimi Hendrix, Steve Jobs and Mercedes all have in common, he rhetorically asked his audience. They consistently followed their own ideas and continuously improved, he said, adding that this is what it takes to be a trendsetter.

Mr.  Shreyer joined Kia Motors in 2006 as the company’s top designer after working as chief designer for Audi and Volkswagen. In January this year, he was promoted to oversee design for both Kia and Hyundai.

“BMW and Mercedes-Benz, they have not always been premium brands,” he said. “Audi was, say, for accountants or just foreign people.”

Looking back decades later, we can see big changes in those German brands, but Mr. Shreyer says he doesn’t like the idea of dropping traditions and radically overhauling designs to make a brand an overnight success.

Acknowledging Chairman Chung’s “great push about how to develop, how to build brands,” he said some things about strong brand identities are fundamental.

“I remember a time when I was talking to company executives and we came out with this comparison: Kia is like a snowflake. Hyundai is like a waterdrop. Kia has coolness. It’s like architecture. It’s somehow structural. Hyundai is more fluid, elegant and dynamic. I like the comparison. For me, this is like a basic, kind of a philosophy. They will stay as they are. No abrupt changes.”

The competition between Kia and Hyundai is as beneficial as it is to compete against bigger global rivals, he said.

“It is important to differentiate the two brands,” he said. “For the Korean market, Hyundai takes up almost half the market and Kia the rest. If they all looked the same, it would be awful.”

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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