FILE PHOTO: Hyundai Motor | Photo credit: KIM HONG-JI
That compares with investments by Hyundai Motor and its group affiliate Kia Corp of 89.1 trillion won between 2021 and 2025, the group said.
South Korean President Lee Jae Myung met with Hyundai Motor Group Chairman Euisun Chung and other company executives on Sunday, two days after details were released of the trade deal, including South Korea’s pledge to invest $350 billion in the US. strategic sectors.
“We are acutely aware of concerns about declining exports and shrinking domestic production due to 15 percent U.S. tariffs,” Chung said after the meeting.
“We will diversify export markets, increase exports from domestic factories and more than double auto exports through new electric vehicle factories by 2030,” Chung said, adding that the group will also provide support to auto parts makers hit by President Donald Trump’s tariffs.
Of Hyundai’s domestic investments, 50.5 trillion won ($35 billion) will go to AI and other future business opportunities, 48.4 trillion won to research and development and 36.2 trillion won to optimizing production facilities and building a skyscraper, the group said.
Published on November 16, 2025
#Hyundai #Motor #plans #investment #billion #South #Korea #trade #deal