During Hyundai Motor Group's annual New Year address in Seoul, Executive Chairman Euisun Chung announced a significant increase in domestic investment to bolster competitiveness. The company will invest 24.3 trillion won, a 19% rise, focusing on next-generation mobility technologies. This investment includes 11.5 trillion won for research and development in areas like electrification, hydrogen-powered vehicles, and connected cars. Additionally, 12 trillion won will go towards expanding the electric vehicle production line and related infrastructure. Chung highlighted the importance of facing challenges to prevent complacency in the automotive industry. The decision to ramp up investments comes amid sluggish consumer sentiment in South Korea and global trade uncertainties, including the threat of a 10% universal tariff on imports by U.S. President-elect Donald Trump. Despite facing economic and geopolitical risks, Hyundai Motor Group remains committed to innovation and growth. The company, which includes Hyundai Motor Co. and Kia, aims to strengthen its position in the industry, particularly in the electric vehicle market. With plans to hire 80,000 new employees and a strategic focus on autonomous driving, Hyundai Motor Group is positioning itself for future success.