Seoul: President Lee Jae Myung has met Hyundai Motor Group Executive Chair Euisun Chung in a closed-door meeting, sources said Thursday, with the two likely discussing investment matters. The meeting, held on Wednesday, was presumed to have concentrated on Hyundai’s commitment to invest 9 trillion won (US$6.6 billion) in establishing an industrial hub for artificial intelligence (AI), robots, and energy in the Saemangeum reclaimed area on South Korea’s southwestern coast by 2029.
According to Yonhap News Agency, the discussions likely also touched upon Hyundai’s role in the government’s ambitious “megaproject” investment initiative. This initiative is focused on developing a new semiconductor cluster and facilities for AI data centers, positioning South Korea as a leader in these cutting-edge technologies. The meeting with Hyundai’s executive chair follows President Lee’s previous engagements with other major industry leaders, including Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won, indicating a strategic approach to fostering industrial growth and innovation.