Hyundai Motor Group has announced a large-scale domestic hiring and investment initiative. (Image courtesy of Yonhap)
SEOUL, Mar. 28 (Korea Bizwire) – In a bold move to bolster its future global competitiveness, Hyundai Motor Group has announced a large-scale domestic hiring and investment initiative.
Over the next three years, the automotive giant plans to recruit 80,000 new employees in South Korea and invest a staggering 68 trillion won.
Hyundai’s production workers, known as the “king of blue-collar jobs” due to the industry’s top-tier wages and benefits, have traditionally been highly sought after.
However, the group’s unprecedented announcement of a long-term hiring and investment strategy on this scale has garnered significant attention.
According to the group’s projections, the implementation of this plan is expected to create a ripple effect, generating an estimated 198,000 new jobs across various sectors.
Hyundai emphasized that this initiative is driven by the need to secure future growth engines through continuous innovation and adaptation amidst the rapidly evolving “Big Blur” era, where boundaries between industries are blurring, and business environments are increasingly uncertain.
Hyundai is actively solidifying its vision for next-generation mobility, encompassing electrification, Advanced Air Mobility (AAM), Software-Defined Vehicles (SDVs), autonomous driving, and robotics.
The domestic hiring and investment push is anticipated to catalyze the growth and advancement of related industries within South Korea, fostering a collaborative ecosystem and driving synergies across upstream and downstream sectors.
Specifically, the group aims to recruit 44,000 individuals for its future new businesses, such as electrification and SDVs.
Hyundai Motor Group Chairman Chung Eui-sun speaks at the Hyundai Ulsan EV Plant (Image courtesy of Hyundai Motor Group)
Additionally, 23,000 positions will be dedicated to developing new vehicle models, enhancing quality and safety management, and expanding global operations. Furthermore, Hyundai plans to employ 13,000 aging workers, including those retiring from the company.
The investment plan allocates 31.1 trillion won for research and development (R&D), 35.3 trillion won for capital expenditures, and 1.6 trillion won for strategic investments.
The R&D efforts will focus on securing core technologies, including product competitiveness enhancement, electrification, SDVs, and battery technology localization, accounting for 46% of the total investment.
Capital expenditures will be directed towards expanding research infrastructure, constructing new Electric Vehicle (EV) dedicated plants, supporting subsidiary investments, the Global Business Center (GBC) project, and strengthening information technology (IT) capabilities.
As part of this ambitious plan, Hyundai will invest heavily in the construction of dedicated EV plants, known as EVO Plants. In the second quarter of this year, the Kia Gwangmyeong EVO Plant will be completed, and production of the compact EV3 model will commence for domestic and international markets.
By the second half of 2025, the Kia Hwaseong EVO Plant will be operational, manufacturing purpose-built electric vehicles (PBVs). At the Hyundai Ulsan EV plant, production will begin in the first quarter of 2026, starting with the Genesis brand’s flagship all-electric luxury SUV model, likely the production version of the recently unveiled “Neolun” concept at the New York Auto Show.
Hyundai Motor Group Chairman Chung Eui-sun takes a look around the Kia Hwaseong EVO Plant (Image courtesy of Hyundai Motor Group)
Within the various industrial sectors, the automotive division, including future mobility businesses, accounts for approximately 63% of the total investment, amounting to 42.8 trillion won. Funds will be allocated to accelerate electrification and SDV initiatives, establish a hydrogen ecosystem, develop AAM and robotics technologies, and more.
Consistent with Hyundai’s goal of connecting the entire value chain of the hydrogen industry, the company plans to accelerate the development of next-generation fuel cell systems, hydrogen buses and trucks, and the construction of hydrogen refueling stations.
In addition to developing new mobility devices, the group will focus on internalizing core technologies for AAM aircraft, scheduled for commercialization by 2028. Furthermore, Hyundai will actively diversify into new businesses, positioning itself as a leader in the rapidly growing robotics ecosystem and future mobility sectors.
Beyond the automotive and future mobility domains, Hyundai will invest a tailored 25.2 trillion won across its subsidiaries in components, steel, construction, and finance by 2026.
These investments will support technological development, identify new business opportunities, and enhance the competitiveness of core businesses.
In February, Hyundai submitted a revised design proposal for its ambitious GBC project in Seoul’s Gangnam district. The updated plan features two 50-story towers and four low-rise buildings for cultural and amenity facilities, totaling six structures.
This replaces the previous design concept of a 105-story tower and four low-rise buildings.
Upon receiving approval from the city for the revised design, the GBC project alone is expected to attract an investment of approximately 4.6 trillion won and create 9,200 new jobs by 2026.
In restructuring the initial high-rise tower into two 50-story buildings, Hyundai Motor Group plans to reallocate the reduced investment costs towards developing a future landmark design in collaboration with world-renowned architects, implementing cutting-edge carbon-reducing green technologies, and integrating advanced mobility technologies such as Urban Air Mobility (UAM), PBVs, and robotics.
Kevin Lee (kevinlee@koreabizwire.com)
