Hyundai CEO says S. Korea-US tariff deal brings business predictability

Hyundai Motor Company CEO Jose Munoz said the recent South Korea-U.S. tariff agreement provides “clarity and predictability” for the company’s future business operations.

“This framework reinforces our localization strategy while maintaining seamless collaboration between our Korean design, engineering, and manufacturing teams and our U.S. operations,” Munoz said in a LinkedIn post on July 31. “It’s exactly the kind of predictable environment that allows us to execute our long-term plans.”

Jose Munoz, CEO of Hyundai Motor Company /Hyundai Motor

He emphasized that the deal supports Hyundai Motor Group’s $21 billion U.S. investment strategy and its pledge to create more than 100,000 direct and indirect jobs across the country.

Munoz mentioned key projects such as the Hyundai Motor Group Metaplant America (HMGMA) in Georgia and the electric steel mill construction project in Louisiana, saying the company is steadily expanding its “integrated American manufacturing ecosystem.”

The agreement, he added, also secures a bright future for Hyundai’s Korean workforce. “The Namyang R&D Center is developing breakthrough designs and technologies that power our American operations, creating seamless collaboration between Korean engineering excellence and American manufacturing capability,” he wrote.

South Korea and the U.S. on July 31 agreed to cut mutual tariffs on South Korean goods and cars to 15%.