Hyundai CEO Munoz: "Focusing on U.S. Investments... Trump Also Recognizes Our Commitment"

Munoz: "Focusing on Accelerating Investment"
"Trump Will Understand Our Commitment to U.S. Investment"

Jose Munoz, President and CEO of Hyundai Motor Company, has expressed his intention to accelerate investments in the United States.

In an interview with The Wall Street Journal (WSJ) on January 31 (local time), Munoz stated, "We are focusing on increasing the pace of our investments," adding, "The sooner we move, the better we can benefit from the effects of our investments."

Last year, Hyundai Motor Company announced plans to invest $26 billion (approximately 37.7 trillion won) in the United States over the next four years. This reaffirms Hyundai's commitment to investment at a time when former President Trump has recently threatened to raise reciprocal tariffs on major items such as Korean-made automobiles, lumber, and pharmaceuticals back to 25%.

Hyundai Motor Company aims to produce 80% of its vehicles sold in the United States locally by 2030. Currently, the company's local production ratio in the United States is around 40%.

He said, "Once you decide to build a plant and the plant starts operating, it cannot be reversed." He also added that former President Trump understands Hyundai's commitment to investment.

Additionally, he mentioned that the Hyundai Motor Group-LG Energy Solution joint battery plant in Georgia, where a large-scale detention incident occurred due to U.S. government immigration enforcement last September, is expected to begin operations in the first half of this year.