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| U.S. President Joe Biden and Hyundai Motor Group Chairman Chung Euisun / Reuters-Yonhap and Courtesy of Hyundai Motor Group |
By Baek Byung-yeul
U.S. President Joe Biden will meet Chung Euisun, chairman of Hyundai Motor Group, during his three-day visit to Korea to thank him for investing in the state of Georgia, a White House official said Friday (KST).
National Security Advisor Jake Sullivan said that President Biden will have a meeting with Chung in Seoul, May 22, to express his gratitude for the $7 billion investment in the U.S. state.
The U.S. president will visit Korea for three days from Friday to Sunday. Reuters also reported that Georgia Governor Brian Kemp will officially announce Friday (local time) Hyundai Motor Group's plan to build a factory in his state dedicated to producing electric vehicles (EVs).
The new factory is expected to create around 8,500 jobs. Hyundai Motor and Kia, the two car brands of the group, already operate car-manufacturing factories in Alabama and Georgia, respectively.
In line with the Biden administration's plan to boost the eco-friendly industry, Hyundai Motor Group has announced that it will increase the proportion of its eco-friendly cars in the U.S. market by up to 50 percent by 2030.
Biden's efforts contrast with those of previous U.S. presidents who focused on the ongoing conflict between North and South Korea.
Instead of visiting the Demilitarized Zone (DMZ), Biden is focusing on strengthening economic cooperation with Korea ― he is scheduled to visit Samsung Electronics' semiconductor plant in Pyeongtaek, south of Seoul, on the first day of his visit, and hold a meeting with the heads of several Korean conglomerates, where he is expected to ask for more investment in the U.S.
With regards to Chung, a Hyundai Motor Group spokesman also confirmed that he will meet with President Biden, May 22.
"We can confirm what U.S. government officials have said. When Chairman Chung meets with President Biden, he will explain Hyundai Motor Group's future business in the United States," the spokesman said.
