Trump Says Hyundai to Invest $560 Million in Georgia Expansion, Create 320 Jobs

President Donald Trump said on Oct. 16 that Hyundai had "just announced" a $560 million investment to expand its plant in West Point, Georgia.

Trump made the remarks during a midterm campaign rally in Dalton, Georgia, citing foreign companies' investment in the US as an example. He went on to tout what he called the achievements of his second-term policies, saying the country was doing very well under Republican leadership.

Trump appeared to be referring to an investment plan by Hyundai Transys, the auto-parts manufacturing affiliate of Hyundai Motor Group. According to an Oct. 8 announcement from the Georgia governor's office, Hyundai Transys will upgrade facilities at its existing Plants 1 and 2 at 6801 Kia Parkway in West Point and build a third plant.

The expansion will also increase production capacity for electrified powertrains used in hybrid vehicles. It will create 320 new jobs in management, supervisory and production roles.

Choi Jae-gyun, head of Hyundai Transys Georgia Powertrain, or HTGP, said the company had grown alongside the state over the past two decades through continued investment in facilities, job creation and talent development in Georgia. He added that the new investment marked an important milestone showing Hyundai Transys's firm commitment to a long-term partnership with the state.

Kang Kyung-ju, Hankyung.com reporter memory@hankyung.com