[Asia Economy New York=Special Correspondent Joselgina] U.S. President Joe Biden, who is visiting Korea, will meet with Chung Eui-sun, Chairman of Hyundai Motor Group, in Seoul.


On the 19th (local time), according to major foreign media, Jake Sullivan, White House National Security Advisor, stated that President Biden will meet with Chairman Chung on the 22nd and express gratitude for the decision to invest $7 billion (approximately 8.9 trillion KRW) in the state of Georgia, USA.


Earlier, the Georgia Governor's office announced that during President Biden's visit to Korea, a major announcement related to the 'Special Economic Development Plan' would be made at the Bryan County site, leading to reports confirming Hyundai's factory establishment. This area has been considered by Hyundai as a potential site for an electric vehicle factory.


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Hyundai Motor Group announced a mid-term plan to increase the proportion of eco-friendly vehicle sales in the U.S. market to up to 50% by 2030 and to invest $7.4 billion in the U.S. by 2025 to achieve this goal.


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