Hyundai Motor Group has unveiled an ambitious investment of 125.2 trillion won ($86.47 billion) slated for South Korea from 2026 to 2030, marking a significant step towards boosting local production and global competitiveness. This announcement follows a recent US-South Korea trade agreement that reduces tariffs on South Korean automobiles from 25% to 15%.
This forthcoming investment exceeds Hyundai and Kia's earlier promise of 89.1 trillion won ($61 billion) for the period of 2021 to 2025, underscoring the group's intensified commitment to innovation and production advancements.
The investments will be strategically allocated, with 50.5 trillion won dedicated to artificial intelligence and future-centric ventures, 38.5 trillion won for research and development, and 36.2 trillion won aimed at enhancing production facilities along with the construction of a prominent skyscraper.
Hyundai Chairman Euisun Chung articulated the company’s objective of diversifying export markets while bolstering domestic manufacturing. The group envisions doubling electric vehicle exports by 2030, leveraging new EV factories and assisting local auto parts suppliers impacted by prior US tariffs.
This decision epitomizes Hyundai's long-term strategy of harmonizing domestic growth with international market expansion, reaffirming South Korea's status as a center for automotive innovation amidst trade-related challenges.
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