Hyundai Motor Group has been confirmed to be pursuing a plan to invest 10 trillion won or more over an extended period of five years or more in the Saemangeum area of North Jeolla Province to establish it as a future new business hub centered on AI (artificial intelligence), hydrogen energy, robots, and similar technologies. Hyundai Motor Group plans to sign a Memorandum of Understanding (MOU) with relevant government agencies including the Ministry of Trade, Industry and Energy, and the Ministry of Climate, Energy and Environment in Saemangeum, North Jeolla Province as early as this week, and to officially announce investment plans jointly with the government. The plan is that if Hyundai Motor Group invests approximately 10 trillion won over the next five years from this year in the Saemangeum area to establish various new business facilities, government ministries and local governments will support and cooperate with these efforts. Key government and local government officials, as well as Hyundai Motor Group Executive Chairman Chung Euisun and Vice Chairman Jang Jae-hoon, are known to be attending the MOU signing ceremony.
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While SK and Samsung hesitate to proceed, Hyundai is taking the lead.
