Hyundai Motor of South Korea will invest hundreds of billions of yuan in its home country

Hyundai Motor Group of South Korea said on Sunday (November 16) that it will invest 125.2 trillion won in the domestic market between 2026 and 2030.

Reuters reported that according to the group, in contrast, Hyundai Motor and its group subsidiary Kia Motors invested 89.1 trillion won between 2021 and 2025.

South Korean President Lee Jae-myeong met with Hyundai Motor Group Chairman Chung Eui-sun and other business leaders on Sunday. Two days ago, the details of the trade agreement reached between the United States and South Korea were released, which included South Korea's commitment to invest 350 billion US dollars in the strategic fields of the United States.

Chung Eui-sun said after the meeting, "We are very clear that due to the 15% tariff imposed by the United States, the decline in exports and the contraction of domestic production are worrying."

"We will diversify our export markets, increase the export volume of domestic factories, and by building new electric vehicle factories, more than double our auto exports by 2030." "

He also added that the group would provide support to auto parts manufacturers affected by President Trump's tariffs.

Hyundai Group said that in its domestic investment in South Korea, 50.5 trillion won will be used for artificial intelligence and other future business opportunities, 48.4 trillion won for research and development, and 36.2 trillion won for optimizing production facilities and building skyscrapers.