Amid global conflicts and significant elections, South Korea’s leading conglomerates are implementing ambitious investment strategies to bolster future competitiveness.
Ranked third in South Korea’s corporate landscape, Hyundai Motor Group aims to enhance its market position with comprehensive plans. By 2026, the conglomerate plans to recruit 80,000 domestic employees over three years and invest 68 trillion won in initiatives like vehicle electrification.
Similarly, LG Group, holding the fourth position, intends to invest 102 trillion won over the next five years until 2028. These investments will target critical sectors such as AI, biotechnology, and battery technology, aiming to strengthen the group’s presence in these industries.
Both conglomerates emphasize their commitment to supporting the domestic industrial ecosystem through increased research and development investment and efforts to boost employment. These strategies seek to adapt to evolving global supply chains amid U.S.-China tensions and navigate uncertainties in the global market.
Hyundai Motor Group’s investment in South Korea reached 17.5 trillion won last year. However, the conglomerate plans to ramp up its average annual investment to around 22.7 trillion won over the next three years, a nearly 30% increase. These funds will support projects like constructing electric vehicle-specific factories and establishing the Global Business Center in Seoul. Additionally, the conglomerate aims to expand its direct hiring efforts by recruiting an average of 27,000 employees annually over the next three years, a 16% increase from the previous year.
Meanwhile, LG Group intends to allocate 65% of its global investments to the domestic market until 2028. Out of the total 102 trillion won investment, 56 trillion won will be dedicated to research and development in crucial growth sectors. The conglomerate also plans to recruit approximately 40,000 employees during this period.
