Hyundai Plans 10 Trillion Won Investment in Saemangeum for AI, Robotics and Hydrogen Infrastructure
Hyundai Motor Group is set to make a multi-billion-dollar investment in the Saemangeum region on South Korea’s west coast. Citing a source directly involved in the matter, Reuters reported the development on Tuesday, February 24.
According to the source, Hyundai plans to invest approximately 10 trillion won (about $7 billion) in the Saemangeum area over the next five years. Another source stated that the investment will cover the establishment of robotics facilities, artificial intelligence (AI) data centers, and hydrogen fuel infrastructure.
Following the investment news, shares of Hyundai Motor Company rose by 10.5 percent on the Seoul market on Wednesday, while shares of its affiliate Kia Corporation increased by 15 percent.
Previously, in November, Hyundai announced plans to invest a total of 125.2 trillion won in South Korea between 2026 and 2030. At that time, Hyundai Executive Chair Chung Euisun pledged to develop the renewable energy-rich coastal region into a “Hydrogen and AI City.”
The latest investment plan comes after Hyundai recently signed a deal to purchase 50,000 AI chips from Nvidia. Under the agreement announced in October, Hyundai intends to establish an “AI Factory” to accelerate advancements in vehicle AI, autonomous driving, smart factories, and robotics.
Hyundai Motor Group, which owns humanoid robot manufacturer Boston Dynamics, has stated that it aims to achieve an annual production capacity of 30,000 robot units by 2028.
DBTech/BMT/OR
