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Hyundai Motor Group to Invest 63 Tln Won in S. Korea thru 2025

Written: 2022-05-24 18:34:40Updated: 2022-05-24 18:54:30

Hyundai Motor Group to Invest 63 Tln Won in S. Korea thru 2025

Photo : KBS News

Hyundai Motor Group has announced an investment of 63 trillion won in South Korea to establish its hub for future businesses at its home turf. 

The new investment plan presented on Tuesday includes the group's three major companies Hyundai Motor, Kia and Hyundai Mobis, and runs through 2025. 

Hyundai Motor Group said 16-point-two trillion won of the overall investment will be injected into automation and environment-friendly businesses such as electric vehicles and hydroelectric vehicles. 

Eight-point-nine trillion won will be spent on new technologies and industries, while 38 trillion won will be earmarked for enhancing existing businesses and services. 

The group earlier had promised 10-point-five billion dollars in new investment for the U.S. during U.S. President Joe Biden’s visit to South Korea over the weekend.

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