Hyundai Motor Group (HMG) announced this week it is lifting its planned investments in South Korea by 19% to KRW24.3trn (US$16.6bn) in 2025, the largest annual increase ever in its home base, as it looks to step up new technology development and manufacturing to meet the challenges of a rapidly evolving global automotive market.

South Korea's Hyundai Motor Group said on Thursday it planned to boost domestic investment by 19% to a record high of 24.3 trillion won ($16.65 billion) this year to secure future growth even as it grapples with economic and political uncertainties.

Hyundai Motor Group announced a plan, Thursday, to invest 24.3 trillion won ($16.67 billion) in Korea this year, in a preemptive move to develop cutting-edge mobility solutions, focusing on electrification,

Hyundai Motor Group, including Hyundai Motor and Kia Corp, plans to invest 24.3 trillion won ($16.65 billion) in South Korea this year, it said in a statement on Thursday. That is a 19% increase from a year ago,

South Korea's Hyundai Motor Group said on Thursday it planned to boost domestic investment by 19% to a record high of 24.3 trillion won ($16.65 billion) this year to secure future growth even as it grapples with economic and political uncertainties.

Hyundai Motor Group will invest an all-time high of 24.3 trillion won ($16.4 billion) in Korea in 2025, with almost half of them for research and development (R&D) to boost the domestic mobility environment.