Trump: “Hyundai has decided to invest around 700 billion won in its Georgia plant”

[Financial News] U.S. President Donald Trump said on the 16th (local time), “Hyundai just announced that it will invest $560 million (about 748.6 billion won) to expand its West Point plant in Georgia.” He cited Hyundai as an example while emphasizing at a campaign rally in Dalton, Georgia, that foreign companies are investing in the United States. He went on to say that the U.S. economy was doing very well under Republican leadership and touted his achievements since returning to office.
The remarks are believed to refer to an investment plan by Hyundai Transys, an auto-parts maker within Hyundai Motor Group. Earlier, on the 8th, Georgia Governor Brian Kemp announced the investment in a press release, saying it would create 320 new jobs as the company continues to support global automaker customers with a presence in North America.
According to the materials, the investment will be used to modernize equipment at West Point’s Plants 1 and 2 and build a new Plant 3. Georgia officials said the expansion would increase production capacity for electrified powertrains used in hybrid vehicles, adding that Hyundai Transys plans to hire staff in administration, management and production.

[email protected] Kim Dong-chan Reporter