Hyundai Motor, a South Korean conglomerate known for its automobiles, will invest $21 billion to expand manufacturing in the United States in what President Trump said was proof that his tariff policies were creating jobs.
The company will spend $6 billion for a steel factory in Louisiana that will employ 1,300 people and for other projects to supply Hyundai factories with parts and materials.
The company will also spend $9 billion to expand production of Hyundai, Kia, and Genesis vehicles in the United States.
The rest of the money will be used for projects that include expanding supplies of renewable energy, building more electric vehicle chargers, and conducting research on robots and autonomous driving.
“Money is pouring in,” Mr. Trump said at the White House. “This investment is a clear demonstration that tariffs very strongly work.”
Mr. Trump has threatened to impose new tariffs on a wide range of foreign goods, including automobiles, and by promising to invest more in the United States, Hyundai may help South Korea avoid tariffs or at least be subject to lower duties than other countries.
Hyundai already has significant investments in the United States.
Along with SK On, a South Korean battery maker, Hyundai is investing another $5 billion to produce electric vehicle batteries near Atlanta.
Mr. Chung gave Mr. Trump credit for the Georgia investments, saying they were initiated when the president visited Seoul in 2019 during his first term.
The Hyundai factories in Georgia also benefited from subsidies passed by Democrats during the Biden administration, although that support was not mentioned at the White House on Monday.
Hyundai also makes vehicles in Montgomery, Ala. Kia builds cars in West Point, Ga., southwest of Atlanta.
The factories provide Hyundai with some immunity from tariffs that the Trump administration has imposed or threatened on steel and cars.
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