Hyundai ICE raid in Georgia leaves Asian executives shaken by Trump’s mixed signals
Seoul – Last week, hundreds of South Koreli’yi migrant raids, South Korea and other places sent a disturbing message to companies: America wants your investment, but does not expect special treatment.
The images of chained and detained employees like criminals were angry with many South Korean. Auto industry managers and analysts, Serpinti some of the major investment projects are felt in delays. Some predicted that some companies could make them think twice to invest in the United States.
Lee Ho-Guen, an automobile industry expert at the University of Daeduk, said, “Especially if things get worse, it can turn more of automobile companies and other places such as Latin America, Europe or Middle East.” He said.
Last week, more than 300 South Korean citizens were taken into custody raid, Ellabell, GA’da targeted a factory site. Hyundai and South Korean battery manufacturer LG, a joint venture of LG energy solutions to supply batteries for homes, are the owners of HL-GA Battery Company. The Georgia factory is also expected to supply batteries for KIA, part of the Hyundai Motor Group. Kia spent hundreds of millions of dollars on her factory in West Point and GA.
“This emphasizes the rival policy priorities of the Trump administration and draws the heads of many people in Asia, ‘Is it more important for America? Is migration raids or high quality foreign investments?” He asks. Tami Overby said, former president of the American Chamber of Commerce in Korea. “The images of hundreds of Korean workers, who are treated like criminals, play all over Asia and do not match President Trump’s high -quality, further production to America.”
A protester is wearing president Trump mask at a rally on Tuesday, which protested the detention of South Korean workers in Georgia. Signs require “emergency versions and Trump apology ..
(Ahn Young-Joon / Associated Press)
South Korea is one of the largest trade partners of the USA and the two countries are exchanging $ 242.5 billion in goods and services last year. According to the South Korean Ministry of Finance, the United States is the leading place for the overseas investments of South Korea, which received 26 billion dollars last year.
Trump is banking banking for ambitious projects such as raids in Georgia to revive American manufacturing.
Hyundai is one of the South Korean companies with the largest commitments to the United States, which has invested about $ 20 billion since the 1980s.. Last year, 836,802 cars sold in the USA.
California is one of the largest markets with more than 70 dealers.
Earlier this year, the company announced an additional $ 26 billion to build a new steel factory in Louisiana and to raise existing automobile facilities.
Hyundai’s expansion plans were a pledge of $ 150 billion last month to help to convince South Korea’s president Trump last month to create tariffs for Korean products instead of 25% announced.
Samsung Electronics announced that building a semiconductor factory in Texas will invest $ 37 billion. Similarly, large quantities are expected from South Korean shipbuilders.
Analysts and executives, last RAID’in exposure to companies, more, because US officials said that more raids came.
“We will do more work field implementation operations,” the White House border consultant Tom Homan said on Sunday. “Nobody does an illegal aliens from the good of their hearts. They can hire them because they can work harder, pay less, and upset the competition hiring the US citizen employees.”
According to local media reports, many South Korean companies have banned all travel to the United States or already recall the staff there. At least 22 US factory site reportedly stopped construction work.
The Korean Economic newspaper said on Monday that they are thinking of adjusting their projects in the United States due to the raids of Georgia, 10 of the 14 companies in contact with.
Analysts say that there is an important problem for the planned projects. South Korean companies participating in US production projects should bring their own engineering teams to employ and operate factories, but it is difficult and time -consuming to obtain a suitable business visa for them. The option, which is frequently used to solve this problem, is an illegal shortcut, such as using an electronic system for travel authority, which has a work permit that allows tourists to stay in the country for up to 90 days.
Unlike countries such as Singapore or Mexico, South Korea does not have an agreement with Washington that guarantees visas for private workers.
“The US continues to invest more in the country. However, no matter what we employ locally, there is no way to remove things from South Korean experts.” LG said the manager of a subcontractor for Energy Solution, asked not to be named. “But now we can’t use Estas as we have done in the past. “
Trump pointed out that South Korean companies will try to make it easier for them to bring the people they need, but that they reminded them that “please our nation will respect the laws of immigration”, and pointed out the social problem of truth.
“Your investments are welcomed and we recommend that you bring your very smart people legally … And we will make it possible to do it quickly and legally,” he said.
Sydney Seiler, Senior Advisor to the Washington -based Strategic and International Research Center and Korean President, said that the timing of the raids is “irritating, but that the South Korean companies will adapt at the end.
“This is a difficulty for everyone, companies, visa embassies, etc..
