Hyundai plant closure could complicate investments in the US
Stockholm, September 11 (Hibya) – The President of South Korea said that a recent raid by the US Immigration Bureau on a Hyundai factory, where hundreds of South Korean citizens were arrested, could discourage South Korean companies from investing in the United States.
South Korean President Lee Jae-myung said on Monday that he was shocked by last week’s raid conducted by US Immigration and Customs Enforcement (ICE) at the Hyundai-LG factory in Georgia, which resulted in the arrest of about 500 workers, most of them South Koreans.
Lee stressed that this move could negatively affect South Korean investments in the United States, adding that Korean companies would inevitably have to think twice before deciding to build factories on American soil.
It is common for South Korean companies to rely on local labor when establishing facilities abroad. Lee noted that access to skilled labor, which is not always easily available when constructing factories, is essential.
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