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South Korea says it flagged Hyundai US investment plan concerns
South Korea questions Hyundai's $26 billion U.S. investment amid ongoing trade talks, citing concerns it may weaken Seoul's negotiating position, officials said.
- On Monday, South Korea's Industry Minister Kim Jung-kwan said Seoul expressed concerns over Hyundai Motor announcing a $11.6 billion U.S. investment last month amid delicate talks with Washington, two weeks after a Georgia factory raid.
- Amid rising U.S. tariffs, Hyundai co‑CEO Jose Munoz announced plans to produce over 80 per cent of U.S. sales in the U.S. by 2030, lawmaker Kim Jong-min said Hyundai aimed to gain favour with the Trump administration.
- Seoul has locked horns with Washington over $350 billion in U.S. investments, while Hyundai Motor's parent group in March announced a $21 billion U.S. plan with President Donald Trump.
- Industry Minister Kim Jung-kwan said Hyundai Motor's conduct was deeply regrettable, adding `I believe that Hyundai now fully understands the Korean public sentiment`.
- Hyundai announced in August plans to increase investment to $26 billion following President Donald Trump’s summit with South Korean President Lee Jae Myung, and the Georgia factory raid led to hundreds of arrested workers.
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Seoul flagged issues with Hyundai’s US investment plan
Korea's industry minister said on Monday that the government had expressed concerns over Hyundai announcing multibillion-dollar U.S. investment plans at the same time that Seoul was involved in delicate trade negotiations with Washington. "We told Hyundai that (its) conduct was deeply regrettable, especially considering that our efforts have been made for the sake of Hyundai and Kia's industry," Industry Minister Kim Jung-kwan told the National …
·Korea, Republic of
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Coverage Details
Total News Sources6
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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