Hyundai and Kia are pouring a record $86 billion into Korea to re-energize the auto industry and turn it into a global EV export hub. The new investment is over 40% more than the KRW 89.1 trillion ($61 billion) Hyundai invested in Korea from 2021 to 2025. Advertisement - scroll for more contentThe funds will be used to jump-start Korea’s auto industry and position it as a global hub for electric vehicle production. “We are well aware of concerns about exports declining and domestic production shrinking due to US tariffs of 15%,” Chung said. Even with the tariffs, Hyundai and Kia are both coming off record third-quarter sales in the US.