Chung Eui-sun, chairman of Hyundai Motor Group, introduced the background for announcing a large-scale investment plan in the United States at the White House in Washington, D.C.
Chairman Chung Eui-sun stated that after participating in the completion ceremony of the Hyundai Motor Group Metaplant America in Ellabell, Georgia, on the 27th, Korean time, he met with local reporters and shared the process that led to the White House briefing.
Chairman Chung said, "Initially, there was a plan to invite President Trump to the Georgia plant, but after hearing that we were building a Hyundai Steel electric furnace plant in Louisiana, we proposed that it would be better to come to the White House to make the announcement." It was likely more welcome news for President Trump to hear about the investment in the steel plant in Louisiana, a stronghold of his support.
Chairman Chung said, "It was a great honor for us, and it was also a great honor that the governor from Louisiana and the members of both the House and Senate could join us."
Regarding the background for deciding to build the Hyundai Steel electric furnace plant, he explained, "We are preparing this as the time will come when the vehicles produced in the U.S. will have to use low-carbon steel from the green steel method, rather than simply building a plant here and constructing a steelworks to prepare for tariffs." He also added that the plan to establish a factory in the U.S. had already begun when President Trump visited South Korea in 2019.
Chairman Chung Eui-sun was well aware that the investment plan of Hyundai Motor Group could not change the U.S. tariff policy itself.
Chairman Chung said, "Because tariffs are a matter between nations, I don't think a single corporation can significantly change that tariff policy. However, if we can have even a minimal positive impact, I believe it is worthwhile for us. After the tariff announcement, individual corporations will need to continue negotiating under government leadership, so I think the period after April 2 will be very important."
Regarding the smooth completion of the Metaplant America, he said, "We prepared for this since 2019. There were difficulties along the way, but it was built quickly and well. This plant will produce Ioniq 5 and Ioniq 9, and Kia vehicles will also be produced here, with plans in the future to manufacture electric and hybrid cars as well. We will be able to apply technologies from the HMGICS global innovation center in Singapore here to produce better quality vehicles."
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