South Korea's Hyundai to announce $20 billion U.S. investment

Hyundai is set to invest $20 billion in U.S. onshoring, including a $5 billion steel plant in Louisiana, with plans to hire 1,500 employees and produce next-generation steel for electric vehicles. The announcement, expected to be made at the White House, comes amid a push by international companies to avoid tariffs ahead of Trump’s deadline, with Hyundai aiming to increase localization to navigate tariffs. The South Korean conglomerate, a major electric vehicle seller in the U.S., already has two automotive plants in Alabama and Georgia, and is expected to open a third plant in Georgia, as the U.S. seeks to address trade imbalances with countries like South Korea.

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