Jose Munoz, president and chief executive officer, Hyundai Motor Company, is expressed during a media tour and a great opening at the Hyundai Motor Group Metaplant America, March 26, 2025, in Ellabelll, GA.
Mike Stewart | AP
New York – Hyundai engine Increases its income expectations for this year, despite the current American prices, which lowered the operating profit margin planned for 2025.
The new objectives require a profit margin of operations this year between 6% and 7%, from 7% to 8%, and an increase in turnover between 5% and 6% – up 2 percentage points – against 175.2 Billions of South Koreans (12.7 billion US Dollars) in 2024.
The South Korean car manufacturer revised its financial objectives Thursday before a day of CEO investors in New York. This is the first time that the company has organized the event outside of South Korea as well as the first time that CEO José Muñoz – which has been promoted to the first job of the automaker from this year – directs the meeting.
In addition to revising the financial objectives, the third world car manufacturer has reconfirmed its ambitious growth plans which include the increase in annual sales to 5.55 million by 2030. Such results would mark an increase of around 34% compared to its world sales last year by 4.14 million units.
Muñoz opened the meeting by discussing the company’s expansion plans, largely fed by the United States, which he called the “growth engine” for the automaker. Hyundai is currently in the process of investing $ 26 billion from 2025 to 2028 to extend its operations in America.
“It is not only a question of attenuation of prices, it is a question of building the most advanced and effective manufacturing ecosystem in the automotive industry,” he said during the event, adding that the United States is its greatest opportunity to expand localized manufacturing.
Hyundai aims to have more than 80% of its sales of American vehicles produce locally. This is currently compared to around 40%.
The PDG investor event occurs at an inappropriate time for the company, as well as relations between the United States and South Korea.
A masked federal agent bearing a survey on internal security garnished a site during a raid where approximately 300 South Koreans were part of 475 people arrested on the site of a $ 4.3 billion project per Hyundai Motor and LG Energy Solution to build batteries for electric cars in Ellabell, Georgia, September 4, 2025 Americans in an image.
US Immigration and Enf Dusique | Via Reuters
The New York meeting occurs weeks after hundreds of workers were arrested during an immigration raid in a battery factory held jointly between Hyundai and LG Energy solution in Georgia.
About 475 workers, including more than 300 South Koreans, were arrested during the September 4 raid at the Ellabelll factory in Georgia, according to American immigration officials. Many detained workers returned home via an chartered plane following discussions between South Korea and US officials.
The RAID, which was the largest operation to apply a single site in the history of the American Department of Internal Security, was led to suspicions concerning “illegal” visas or the immigration status of workers on the site, said US officials.
At the start of Thursday’s meeting, Munoz expressed “our sincere empathy” for workers and their families who were affected by the Raid. He said he hoped that the United States and South Korea will be able to work together to solve the problem and continue the healthy relationship between the two countries.
“As our executive president said it last week, we hope that the United States and Korea will be able to work on mutually beneficial solutions for short-term business trips, in particular for specialized technical expertise,” said Munoz.