Munoz of Hyundai Motor: "Tariff Agreement Reached... Provides Business Predictability"

"Partnership Between the Two Countries Will Continue to Thrive"

Jose Munoz, President and CEO of Hyundai Motor Company, stated that the Korea-US trade agreement "provides clarity and predictability for future business operations."

On the 31st, through LinkedIn, Munoz said, "This framework strengthens Hyundai's localization strategy and enhances seamless collaboration between Korea's design, engineering, and production sectors and our manufacturing facilities in the United States."

Munoz further emphasized, "It creates a predictable environment where we can execute long-term plans," adding, "It reinforces Hyundai Motor Group's $21 billion investment strategy in the United States and our commitment to creating more than 100,000 direct and indirect jobs."

He mentioned Hyundai Motor Group Metaplant America (HMGMA) in Georgia and the electric arc furnace steel mill construction project in Louisiana, stating, "We continue to expand an integrated manufacturing ecosystem in the United States."

Additionally, he said, "It ensures a bright future for Korean employees who are leading global innovation," and added, "The Namyang R&D Center is developing innovative designs and technologies to support our US operations, building seamless collaboration between the excellence of Korean engineering and the manufacturing capabilities in the United States."

The previous day, Korea and the United States concluded a trade agreement that set the mutual tariff rate and the tariff rate for automotive items at 15%.