South Korea says it flagged concerns over Hyundai’s US investment plan
Independent lawmaker Kim Jong-min criticised Hyundai for trying to gain favour with the US, weakening South Korea’s leverage in trade talks
South Korea’s industry minister said on Monday that the government had expressed concerns over Hyundai announcing multibillion-dollar US investment plans at the same time as Seoul was involved in delicate trade negotiations with Washington.
“We told Hyundai that [its] conduct was deeply regrettable, especially considering that our efforts have been made for the sake of Hyundai and Kia’s industry,” South Korea’s Industry Minister Kim Jung-kwan told parliament in response to questions.
“I believe that Hyundai now fully understands the Korean public sentiment,” Kim said. He declined to comment on how Hyundai had responded to his concerns.
Hyundai did not immediately respond to a request for comment.
The raid led to the arrest of hundreds of workers and sent shock waves across South Korea, which is an important US ally and a major investor in the country.