Hyundai supports renewed US-South Korea trade talks

Group 1 - Hyundai Motor Group's executive chairman, Chung Euisun, visited the US to support the South Korean government's efforts for better access to the US market [1] - A previous mission in August did not alter the US decision to impose a 25% import duty on South Korean imports, while Japan and the EU face lower duties of 15% and the UK at 10% [2] - Hyundai Motor and Kia Corporation, along with GM Korea, exported approximately 1.6 million vehicles to the US last year, valued at around US$ 38 billion [3] Group 2 - Despite challenging trade conditions, Hyundai Motor Group's US sales rose over 10% to 1.37 million vehicles in the first nine months of 2025, while imports from South Korea decreased by nearly 7% [4] - Key issues in the South Korea-US trade negotiations include US access to South Korean markets and the commitment to invest US$ 350 billion in US manufacturing, with only US$ 150-200 billion currently committed [5] - Hyundai Motor Group plans to increase its US investments from US$ 21 billion to US$ 26 billion, including expanding its Savannah plant's capacity to 500,000 vehicles per year by 2028 [6] Group 3 - A raid by US immigration authorities on the construction site of Hyundai's EV battery manufacturing joint venture with LG Energy Solution is expected to delay the investment completion by at least three months [7]