Hyundai's U.S. Investments Spark Controversy Amid South Korea-U.S. Trade Talks

South Korea's government, through Industry Minister Kim Jung-kwan, has voiced deep regrets over Hyundai's announcement of significant U.S. investment plans. This comes at a critical time as Seoul engages in sensitive trade negotiations with Washington, centering on automotive tariffs.

The timing of Hyundai's announcement, coupled with a recent raid at its Georgia car battery facility by U.S. immigration authorities, poses concerns. Hundreds of worker arrests followed the raid, creating ripples across South Korea. The nation's key export sector, mainly focused on the automotive industry, faces potential impacts amid talks of a $350 billion U.S. investment.

Additional criticism emerged from independent lawmaker Kim Jong-min, highlighting the adverse impact of Hyundai's actions on Seoul's negotiation leverage. Despite increased investments in the U.S., Hyundai positions for future tariff adjustments by planning to manufacture a significant portion of its vehicles domestically in the U.S. by 2030.

(With inputs from agencies.)