South Korean President: Hyundai Battery Factory Raids In The US Affect Investment

JAKARTA - South Korean President Lee Jae-myung stressed that the detention of hundreds of workers in raids on Hyundai battery factories in the US could have an impact on South Korea's direct investment in the US in the future due to strict visa regulations for South Korean companies.

"If you ask whether this situation will affect cooperation between South Korea and the US, then so far we haven't considered this issue deeply," Lee said at a press conference marking his 100-day term.

"However, our companies that have entered the US market are very nervous," he added.

South Korean companies need technicians to install equipment when they build production lines in the US, he said.

The technician requires a short-term residence visa, not a long-term visa or work visa. There are no such experts in the US, so South Korea has requested temporary residence permits for its employees, Lee said.

"But if this doesn't allow it, companies will begin to doubt whether building factories in the US is worth doing, given that it poses ongoing difficulties and sanctions. This could have a very serious impact on direct investment in the US in the future," Lee said.

Seoul is negotiating appropriate visas for engineers with Washington, including the possible implementation of the new visa category.

On Friday (5/9), the US Attorney's office for the Southern District of Georgia announced the state had issued a large-scale federal search warrant at a Hyundai facility in Geordia and detained at least 475 illegal workers.

South Korean Foreign Minister Cho Hyun said more than 300 of them were South Korean citizens.

An Indonesian citizen who has complete documents was also caught in the raid while holding a meeting with Hyundai.