Hyundai boosted its investment in the United States by $26 billion on the same day South Korean President Lee Jae Myung visited President Donald Trump at the White House.
In a Monday press release, Hyundai Motor Group announced that it would raise its planned investments through 2028 from the $21 billion pledged in March to $26 billion. The investments will focus on steel manufacturing, robotics innovation, and auto production.
The White House hailed the investment in a post on X.
“That’s the Trump Effect!” the account posted, with a flying U.S. dollar emoji.
INVESTMENT ALERT
Hyundai is increasing its investment to $26 BILLION following @POTUS‘ meeting with South Korean President Lee Jae Myung.
That’s the Trump Effect!
pic.twitter.com/bcWB6gQVCN
— The White House (@WhiteHouse) August 26, 2025
The South Korean company estimated that the investment is expected to create 25,000 direct U.S. jobs by 2028.
Among the centerpieces of the investments is a new steel mill in Louisiana “to reinforce U.S. strategic industries with stronger local supply chains,” increase U.S. auto production capacity to enhance “agility in response to American market demand,” and the creation of a robotics facility with “30,000-unit annual capacity to establish a U.S. hub.”
Hyundai also boasted “accelerating technology commercialization” through its U.S.-based tech affiliates, Boston Dynamics and Motional, and expanding collaboration with U.S. companies in advanced technologies such as artificial intelligence, robotics, and automated driving.
Hyundai’s investments over the next three years will amount to more than its total investments in every year combined since entering the U.S. market in 1986.
“This latest investment underscores the Group’s unwavering commitment to the U.S. economy and its role as a trusted partner in driving innovation, sustainability, and long-term prosperity,” the company said.
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The Trump-Lee summit triggered a surge in U.S. investment from major South Korean companies, including Korean Air Lines and Korean Gas.
A hallmark of Trump’s diplomacy in his second term has been pushing for increased foreign investment in the U.S., tying this to wider diplomatic efforts. He has secured trillions in investment from the United Kingdom, European Union, Japan, South Korea, Saudi Arabia, and many others.