Hyundai Unveils Ambitious $20 Billion US Investment Plan

South Korea's Hyundai Motor Group is poised to announce a significant $20 billion investment in the United States. This includes a $5 billion steel plant in Louisiana and comes amidst potential tariff threats from President Trump. The initiative promises more jobs and financial benefits for Americans.

South Korea's Hyundai Motor Group is gearing up to announce a substantial $20 billion investment in the United States, with a formal declaration expected at the White House on Monday. This investment plan, announced by an unnamed U.S. official, includes a significant $5 billion allocation for a new steel plant in Louisiana.

Hyundai Chairman Euisun Chung, alongside President Donald Trump and Louisiana Governor Jeff Landry, are anticipated to make the announcement. Governor Landry previously traveled to South Korea to discuss this development. The investment occurs as Trump considers new tariffs, which could significantly impact international trade dynamics.

The investment arrives as protectionist measures are in the spotlight, with Trump aiming to safeguard U.S. industries. Concurrently, Hyundai is expected to hold an opening ceremony for its new car and battery factory in Georgia, highlighting its growing footprint in the U.S. auto sector.

(With inputs from agencies.)