South Korea's Hyundai announces $20 billion US investment, new steel plant

South Korea's Hyundai Motor Group announced a $20 billion investment in the United States at the White House on Monday, March 24.

The investment includes a $5 billion new steel plant in Louisiana announced by President Donald Trump, Hyundai Chairman Euisun Chung and Louisiana Governor Jeff Landry.

Landry traveled to South Korea in October and met with Hyundai to discuss the investment plan.

Numerous companies have announced planned investments following Trump's return to the White House, though some of those statements have wrapped in previously announced plans.

Earlier this month, Hyundai Steel said it was considering building a steel factory in the southeast United States but nothing had been decided, adding that a hike in U.S. tariffs would have a negative impact on the Korean steel industry.

REUTERS/US NETWORK POOL

Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
Twitter - https://tmt.ph/twitter
DailyMotion - https://tmt.ph/dailymotion

Subscribe to our Digital Edition - https://tmt.ph/digital

Check out our Podcasts:
Spotify - https://tmt.ph/spotify
Apple Podcasts - https://tmt.ph/applepodcasts
Amazon Music - https://tmt.ph/amazonmusic
Deezer: https://tmt.ph/deezer
Stitcher: https://tmt.ph/stitcher
Tune In: https://tmt.ph/tunein
Soundcloud: https://tmt.ph/soundcloud

#TheManilaTimes
#tmtnews
#hyundai