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Monday, June 27, 2022
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Hyundai to invest over $10 billion in U.S.

After meeting U.S. President Joe Biden on Sunday (May 22), Hyundai Motor Group Executive Chair Euisun Chung announced the group planned to invest an additional $5 billion in the United States to strengthen collaboration with U.S. firms in advanced technology.

The investments will be made by 2025, paying for activities in robotics, urban air mobility, autonomous driving and artificial intelligence, said Chung. Hyundai Motor Group, which houses Hyundai Motor Co and Kia Corp, on Friday (May 20) announced plans to invest $5.5 billion in Georgia to build electric vehicle and battery facilities.

At the end of news conference with Chung, Biden had a simple message for North Korea’s Kim Jong Un. “Hello… period,” he told reporters. His wry response underscored the administration’s low-key approach to the unresolved tensions with North Korea, which is a stark contrast with former President Donald Trump’s showy approach.

Neither president’s approach has led to a major breakthrough, however, and North Korea has resumed testing its largest intercontinental ballistic missiles (ICBMs), while intelligence reports suggest it is preparing for a new nuclear test.

(Production: Minwoo Park, Yeni Seo)

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