Obstacles for Hyundai: Suspended activities and losses of 1.8 trillion won due to American tariffs

In his New Year's speech, Chung Euisun, the president of Hyundai, emphasized that global trade tensions and intensified competition will affect the profitability of the automotive industry, and geopolitical conflicts could lead to the suspension of activities in certain regions. Hyundai has been affected by the tariff regime imposed by the U.S., which cost the company approximately 1.8 trillion won in the third quarter.

Additionally, a raid on a Hyundai-LG Energy Solution factory in the U.S. will delay construction by two to three months. Chung mentioned that Hyundai is lagging behind rivals in the field of artificial intelligence and has requested collaborations to enhance its capabilities. The company intends to invest 125 trillion won in AI and robotics over the next five years.