Hyundai Motor Group will invest $73 billion by 2018 to consolidate its global position, the automaker said on Tuesday. The new investment plan follows the firm’s purchase last year of a site Gangnam, Seoul for a massive new headquarters.
The world’s No. 5 automaker plans to invest 76 percent of the money in its domestic operations, which raises hopes of stimulating private consumption here and creating jobs.
Hyundai will invest W49.1 trillion over the next four years to bolster its domestic factories, strengthen its IT infrastructure and build a global business center at the new headquarters complex. It will spend the rest on research and development.