Hyundai Boosts South Korea Investment

Benzinga

Hyundai Motor Group plans to invest $86.47 billion in South Korea after a new trade deal lowers U.S. auto tariffs to 15%. Chairman Euisun Chung said the company will boost exports, expand EV production, and support parts suppliers affected by Trump’s tariffs.

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00:00It's Benzinga, bringing Wall Street to Main Street

00:02Hyundai Motor Group said it will invest $86.47 billion in South Korea after Seoul finalized

00:08a trade deal lowering U.S. auto tariffs to 15 percent, according to Reuters.

00:13South Korean President Lee Jae-myung met with Hyundai Motor Group Chairman Yusin Chung after

00:18the deal's release.

00:19Chung said the group plans to diversify export markets, increase exports from domestic factories,

00:25and more than double auto exports through new electric vehicle factories by 2030.

00:29He said Hyundai will support auto parts makers affected by Trump's tariffs.

00:33For all things money, visit Benzinga.com

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