As you just saw, President Biden also met Hyundai Motor Group Chairman Chung Eui-sun.

At this meeting, Chairman Chung announced that he would invest an additional $5 billion.

Combined with the plan to establish an automobile factory announced yesterday (21st), the total investment in the United States is $10.5 billion, or 13 trillion won in Korean money.

Continuing to be reporter Jeon Yeon-nam.


U.S. President Biden and Hyundai Motor Group Chairman Chung Eui-sun walk side by side towards the podium after a brief conversation before the main meeting.

Chairman Chung announced that he would invest $5 billion in future new industries in the United States, such as autonomous driving software and artificial intelligence.

[Eui-sun Chung / Chairman of Hyundai Motor Group: Hyundai Motor Group plans to strengthen cooperation with American companies on various technologies by investing an additional $5 billion by 2025.]

Yesterday, a $5.5 billion electric car plant in Georgia, USA It is an additional investment policy following the announcement that it will build the back.

The amount of US investment announced by Hyundai Motor Group to coincide with President Biden's visit to Korea amounted to 10.5 billion dollars, or 13.3 trillion won in Korean money.

This is $3.1 billion more than the amount of investment in the US announced in May last year.

[Joe Biden/President of the United States: I would like to express my gratitude once again to Chairman Chung Eui-sun for choosing the United States, and I will not disappoint.

This investment by Hyundai Motor Group in the United States is a prime example of partnership, innovation and value.]

It is also noteworthy whether Hyundai Motor Group's large-scale investment in the US can create a virtuous cycle in the domestic economy, such as increasing domestic production and creating jobs.

(Video editing: Park Chun-bae)