"After the announcement of tariffs, negotiations should be conducted by individual companies under the leadership of the government, so I think that will be the beginning," Chairman Chung told reporters at the completion ceremony of Hyundai Motor Group's Metaplant America (HMGMA) in Elabel, Georgia. "That's why I think April 2nd (the notice date for tariffs) is a very important time."
However, he stressed that "tariffs are a country-to-country problem," adding, "For this reason, I don't think that what a company (like Hyundai Motor Group) does will change its tariff policy significantly."
Regarding the reason for the investment announcement at the White House on the 24th, Chairman Chung explained, "I originally invited U.S. President Donald Trump to the factory here, but President Trump, who heard that Hyundai Steel would build an electric plant in Louisiana, said it would be better to announce it at the White House, so I did it on the spot." He added, "When President Trump visited Korea in 2019, he already had plans to build a factory in the United States, so he understood that well."
Regarding HMGMA, Chairman Chung said, "We will make the model we want in the market and focus on operating it among factories around the world," adding, "HMGMA will be able to produce better quality cars by applying the technology developed by Hyundai Motor Group's Singapore Global Innovation Center." Regarding the $21 billion investment that has promised to invest over the next four years, he explained, "It will be invested in parts or steel plates that will be used for parts," adding, "We will also focus on investing in new technologies such as robotics and future aviation mobility (AAM)."
Hyundai Motor Group Vice Chairman Jang Jae-hoon continued to explain this in detail. Vice Chairman Jang said, "Of the $21 billion, $8.6 billion will be spent on automobiles and auto parts, $6.1 billion will be spent on steel and parts, and $6.3 billion will be invested in future businesses." He added, "The largest amount of $8.6 billion spent on automobiles and auto parts is facility investment to increase production of 200,000 HMGMA, including the creation of component clusters, improvement of aging Alabama and Georgia factories, and investment in battery joint ventures."
Regarding concerns that production in Korea will decrease due to increased U.S. production, Vice Chairman Jang said, "I think we should aggressively expand the pie in the U.S. market before worrying about decreasing domestic production," adding, "Even if we expand production in the U.S., we have to increase production in Korea, and we are focusing on improving marketability." Kia President Song Ho-sung said, "40% of HMGMA's production will be Kia vehicles," adding, "The first car will be produced in the middle of next year."
[Journalist Kim Dong Eun]
