Top executives of Hyundai Motor Group’s key affiliates explored ways to strengthen cooperation with Governor Brian Kemp of Georgia, who visited South Korea. Amidst Hyundai Motor Group’s large-scale investments such as building a new electric vehicle (EV) factory, Metaplant America (HMGMA) in Georgia, the state showed its willingness to expand investment support including early operation.
According to industry sources on June 18, the executives of Hyundai Motor Group attended the Night of Georgia event held at the Conrad Hotel in Yeouido, Seoul on the 17th, and exchanged views on activating mobility business in the U.S. with Kemp. The event, organized by the State of Georgia, was held to strengthen economic partnerships with Korean companies that have or are interested in local bases.
From Hyundai Motor Group, Chang Jae Hoon (President & CEO of Hyundai Motor Company), Song Ho Sung (President of Kia), Jose Munoz (Global COO of Hyundai Motor Company), Lee Gyu Suk (President of Hyundai Mobis), Seo Kang Hyun (President of Hyundai Steel), and Yeo Su Dong (President of Hyundai Transys) attended. Representatives of Hyundai Motor Group’s local partners, including Daehan Solution and Dongwon Metal, also joined.
Philip Goldberg, U.S. Ambassador to Korea, Park Won Cheol (President of SKC), Kim Dong Myung (President of LG Energy Solution), and Lee Koo Young (CEO of Hanwha Solution Q CELLS division) who have entered Georgia, were also in attendance. Georgia has a deep connection with Korea. Trade between Georgia and Korea is around $15.8 billion, accounting for about 10% of Georgia’s total trade.
Kemp stated, “Korean companies have learned from experience that Georgia is a good place to invest and have become part of the local community, elevating Georgia to a new level,” adding, “I am grateful for the ongoing partnership that will bring prosperity to future generations of Georgia and the Republic of Korea.”
Kemp emphasized to Hyundai Motor Group, “We will help you to put your products on the market faster.” He also added, “If Hyundai Motor Group is considering investing in hydrogen, we will support all necessary parts.” Pat Wilson, Georgia’s Minister of Economic Development, also showed high interest in future hydrogen cooperation, saying, “In the case of Hyundai Motor’s hydrogen-electric truck, Xcient, the fact that it moves is almost like a science fiction movie in the U.S.”
Chang said, “Hyundai Motor is pleased to be able to participate in the journey towards a sustainable future that Georgia is pursuing, along with major Korean companies that have entered Georgia. The new factory in Georgia, which will soon produce the latest EVs, will be an important milestone towards more eco-friendly mobility.” He also added, “By meeting together in Seoul, Korean companies and the State of Georgia have developed into a more important relationship based on a strong partnership.”
Georgia is the key base for Hyundai Motor Group’s U.S. business. Hyundai Motor Group has been producing more than 300,000 strategic vehicles for the U.S. every year since the completion of the Kia Georgia plant in 2010. It is building not only HMGMA, which will start operation as early as October but also building a joint battery cell factory and a battery system factory. Georgia also provides various supports for factory construction and operation, including property tax reduction, income deduction, tax reduction for factory construction machinery and construction materials, as well as support for land purchase and road construction.
