Hyundai Motor announces US$86 billion investment in South Korea after US trade deal

George Mihalcea

SEOUL: Hyundai Motor Group will invest 125.2 trillion won (US$86.47 billion) in South Korea from 2026 to 2030, the automaker said on Sunday after Seoul finalised a trade deal reducing US tariffs on South Korean autos to 15 per cent from 25 per cent. That compares with investments by Hyundai Motor and its group affiliate Kia Corp of 89.1 trillion won from 2021 to 2025, according to the group. South Korean President Lee Jae Myung met with Hyundai Motor Group Chairman Euisun Chung and other