Several South Korean firms have reportedly pulled or postponed planned investments in U.S. projects following the detention of hundreds of South Korean workers in a United States immigration raid in September.
The Washington Post reported the news on Saturday, citing two consultants and a lawyer with clients in East Asia.
According to the report, at least two companies with projects in development have decided against investing in the U.S., and at least four have extended pauses on projects following the September raid of a Hyundai construction site.
Tami Overby, an international business consultant who previously headed the U.S.-Korea Business Council at the U.S. Chamber of Commerce, said a South Korean firm that had been selecting a site in the U.S. decided after the raid that the unpredictability of the U.S. market made expansion too risky and opted to pursue growth in South Korea instead.
Chris Thomas, an immigration lawyer in Denver, said a South Korea-based client that had planned to establish a large presence in the U.S. tech industry changed course after the Hyundai raid and now plans to expand in South Korea, or possibly India.