Anchor: Hyundai Motor Group will invest 21 billion dollars in the United States through 2028. Announcing the investment decision together with the executive chair of the South Korean auto giant, U.S. President Donald Trump said his tariff policies are working.  
Kim Bum-soo has more.
 
Report: 
[Sound bite: US President Donald Trump] 
“Today we have a beautiful announcement to make. It’s very exciting. The money is pouring in …”

The investment package comprises eight-point-six billion dollars for the automotive sector; six-point-one billion dollars for the steel, parts and logistics industries; and six-point-three billion dollars for future industry sectors and energy.

Hyundai’s Executive Chair Chung Eui-sun announced the four-year investment road map at the White House on Monday alongside U.S. President Donald Trump.

[Sound bite: Hyundai Motor Group Executive Chair Chung Eui-sun]
“A key part of this commitment is our six billion dollar investment to strengthen the U.S. supply chain, and from steel and parts to automobiles. We are especially excited about Hyundai Steel’s multibillion investment in a new facility in Louisiana, which will create one-thousand-300 American jobs and serve as the foundation for a more self-reliant and secure automotive supply chain in the U.S.”

Trump pointed to the South Korean company’s decision as proof that his tariff strategy is working.

[Sound bite: US President Donald Trump] 
“The cars are coming into this country at levels never seen before. Get ready. This investment is a clear demonstration that tariffs very strongly work, and I hope that — other things also — but that the tariffs are bringing them in at levels have not been witnessed.”

This came just about a week before the U.S. introduces its reciprocal tariff plans, and as car manufacturers are cautiously waiting for Trump’s auto tariff announcement.  

[Sound bite: Hyundai Motor Group Executive Chair Chung Eui-sun]
“With your leadership, Mr. President, Hyundai Motor Group is proud to be a stronger partner in America’s industrial future. I’d like to personally invite you to visit one of our state-of-the-art manufacturing facilities to see firsthand our commitment to the United States and our American workers.” 

Under the South Korea-U.S. free trade agreement, signed in 2007, South Korea-based auto manufacturers export their products to the U.S. tariff-free. 

Of the one-point-seven million cars the auto giant sold in the U.S. last year, more than one million were manufactured in South Korea.

To ride out Trump’s tariff measures, Hyundai is aiming to increase production of its Hyundai, Kia and Genesis brands within the U.S. to nearly one-point-two million cars a year.
Kim Bum-soo, KBS World Radio News.