Hyundai to Invest Over $85 Billion in South Korea The investment will be spanned across over the next five years, this will fuel progress in cutting-edge technologies

By Entrepreneur Staff

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Hyundai Motor Group announced plans to invest $86.47 billion in South Korea by 2030. The commitment comes days after Seoul finalized a new trade agreement with Washington that lowers United States tariffs on South Korean automobiles from 25 percent to 15 percent. The company believes this will solidify South Korea's position as a global mobility hub and further strengthen national economy.

"A significant portion of the investment will focus on new businesses based on advanced AI technologies, such as robotics, contributing to the development of Korea's AI and Robotics innovation ecosystem," the company said in a press release.

The new investment represents a significant increase from the group's previous commitment between 2021 and 2025. The announcement followed a meeting between South Korean President Lee Jae Myung and Hyundai Motor Group Chairman Euisun Chung.

Hyundai has highlighted that a significant portion of the investment will focus on new businesses based on advanced AI technologies. The total sum of the investment will be distributed across three major areas across -- AI, software defined vehicles (SDVs), electrification, robotics and hydrogen -- research and development for new products and core technologies and capital investment to optimise production facilities.

The expanded investment underscores Hyundai Motor Group's intent to strengthen its technological base and secure long term competitiveness as global trade dynamics continue to evolve.

Addressing concerns about export competitiveness, the group would expand global diversification efforts, increase exports from its South Korean factories, and more than double shipments of vehicles by building new electric vehicle factories by 2030. The company would support local auto parts suppliers affected by President Donald Trump's tariff policy.
Entrepreneur Staff

Entrepreneur Staff

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