Major U.S. Raid Stalls Hyundai's $4.3 Billion Georgia Battery Plant Project

A major raid by U.S. authorities at a Hyundai Motor facility under construction in Georgia has led to the detention of hundreds of workers, interrupting the progress of a massive car battery factory project. This action is part of a broader crackdown on immigrants under the Trump administration, with significant implications for ongoing foreign investments in the U.S., particularly those from key ally South Korea.

Tensions between Washington and Seoul could escalate as the arrests disrupt the economic activities between the two nations. Recently, South Korea had committed to $150 billion in U.S. investments, with $26 billion from Hyundai, at a summit aiming to strengthen bilateral ties. The South Korean Foreign Ministry expressed concern over the treatment of their nationals during the U.S. enforcement operation.

The halted facility, a joint venture between Hyundai and LG Energy Solution, represents one of Georgia's largest economic development projects. Both companies stated their commitment to cooperating with U.S. authorities to resolve the issue, aiming for a swift release of the detained workers. Meanwhile, Hyundai's electric vehicle operations remain unaffected.

(With inputs from agencies.)