Jose Munoz, CEO of Hyundai Motor Company, noted regarding the conclusion of the U.S.-South Korea tariff negotiations that it "provides clarity and predictability for future business."
Munoz said through LINKED the previous day, "This framework enhances Hyundai's localization strategy and maintains smooth collaboration between Korea's design, engineering, and production sectors and U.S. production facilities."
He added that it supports "a predictable environment for executing long-term plans" and "Hyundai Motor Group's $21 billion investment strategy in the U.S. and the promise to create over 100,000 direct and indirect jobs."
Munoz mentioned projects such as the Hyundai Motor Group Meta Plant America in Georgia and an electric steel mill construction project in Louisiana, saying, "We are continually expanding an integrated manufacturing ecosystem in the U.S."
He continued, "We guarantee a bright future for Korean employees leading global innovation," adding that "the Namyang Research Institute develops design and technology for the U.S. business and supports collaboration between Korea's engineering excellence and U.S. manufacturing capabilities."
The U.S. and South Korea agreed the previous day to reduce the reciprocal tariffs applicable to Korea and the tariff rates on automobile items to 15%.