Hyundai Is Spending $86.5 Billion On Manufacturing In Korea

Hyundai Motor Group will invest 125.2 trillion won ($86.47 billion) in South Korea from 2026 to 2030, the company said, after Seoul finalized a trade deal that cuts U.S. tariffs on South Korean cars from 25 percent to 15 percent.

In comparison, Hyundai Motor and its partner company Kia Corp. have invested a total of 89.1 trillion won in the period 2021-2025, Reuters reports.

South Korean President Lee Jae-myung met with Hyundai Motor Group Chairman Uisun Chung and other business leaders on Sunday, two days after announcing details of a deal that includes South Korea’s pledge to invest $350 billion in strategic US sectors.

“We are aware of concerns about a possible decline in exports and a reduction in domestic production due to the 15 percent US tariffs,” Chung said.

“We will diversify export markets, increase exports from domestic factories and more than double car exports thanks to new factories for electric vehicles by 2030,” he added, stressing that the group will also provide support to auto parts manufacturers suffering the consequences of tariffs introduced by US President Donald Trump.

Of the country’s total investment, 50.5 trillion won ($35 billion) will go into artificial intelligence and other future business opportunities, 38.5 trillion won into research and development, and 36.2 trillion won into optimizing production capacity and building solitaires, the group said.

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