Last week I wrote an article on the Reality of Electrifying Everything. I stand behind my concerns and conclusions on that and the other articles I have written on energy and electricity generation. However, this week I attended the two part and outstanding USCB-OLLI course: “THE KOREAN WAVE 2024 – CHANGING DEMOGRAPHICS OF THE LOWCOUNTRY” . Professor Juanita (Babet) Villena-Alvarez was the instructor and she presented an incredible story of the growth of Hyundai from founding in 1967, to becoming the huge conglomerate it is now. The course was well researched and presented in a compelling and interesting way on the massive investments by Hyundai in south east Georgia only about an hour drive from Hilton Head. The course purpose was to inform and educate local citizens of the coming cultural changes and the infrastructure challenges that come along with the rapid growth. This was not a technical discussion on EV’s, it was a course on culture, business and demographics. However, in my mind, I was thinking about the challenges to electricity generation to make it all possible.

Getting back to my normal topic of writing on energy and electricity generation. I should point out another large project, now completed and within 100 miles of the HMG Metaplant, is Georgia Power’s Plant Vogtle, now the largest nuclear generating plant in the U.S.

Professor Villena-Alvarez was kind enough to share dozens of references. Many are included at the end of this. The point of this article is to show the enormous commitment Hyundai has made toward “Electrifying Transportation”. Sitting in class it occurred to me, “What Am I Missing?”…..Here is an update on Hyundai’s project which is in the low country, within an hour drive from my home. Needless to say, I was impressed, this is a huge commitment.

Hyundai Invests in The Largest Project in GA State History According to Governor Kemp

Governor Brian Kemp stated,₍₆₎ “In a single year, we broke ground on the largest project in state history, landed multiple suppliers across the state for Hyundai’s Metaplant, and welcomed LGES to Bryan County. Today, we’re building on that success as we continue to make Georgia the e-mobility capital of the nation,” said Governor Brian Kemp. “These types of major investments ultimately go to hardworking Georgians in the form of paychecks, improved schools and infrastructure, and more. Thank you to Hyundai Motor Group and LGES for again recognizing that the No. 1 state for business is a good investment.” As I studied the materials that Professor Villena-Alvarez prepared, I was impressed. Here are some points and references that may interest you too.

Some Points of the Economic Impact

Hyundai is a huge company. Hyundai Motor Group (HMG) is just one division. Until I took the short course, I had no idea of just how large Hyundai and other South Korean firms are and their economic impact in the U.S.

I learned that not only Hyundai, but also other South Korean firms including, Sam Sung, LG, SK-Battery and others have invested over $200 Billion in plants in the U.S. Hyundai makes Hyundai, KIA and Genesis autos. Also, Steel, Shipping and more. Here is a bullet list of some key facts of economic impact from Korean direct investment into Georgia and the U.S.A.

• Over 8,100 jobs will be created by HMG in Georgia, over 14,300 including supply-chain providers of components
• The Panamax capable Port of Savannah will be enlarged with additional new Ship to Shore Cranes. Savannah is already one of the busiest ports in the U.S.
• The Talmadge Bridge over the Savannah River will be raised to accommodate Panamax Ships.
• Hyundai is now the #3 world auto manufacturer, after Toyota and VW, HMG plans to build 500,000 vehicles/year at the new GA MetaPlant. The professor said BMW produced 412,000 vehicles in 2022 as comparison
• The Hyundai Meta Plant covers almost 3,000 acres off of I-16
• Hyundai is partnering with Georgia Tech to collaborate on the use of Hydrogen for future Hydrogen Fuel Cell Vehicles
• Hyundai had a large plant in China. In August 2023, Hyundai pulled out of China ₍₂₄₎

Time Will Tell….

Hyundai and others have made an enormous investment into “Electrifying Transportation”. My position and my concerns have been discussed in numerous blog posts. As the years roll on, we shall see how this all turns out. A couple tidbits of South Korean business culture and history: A majority of South Korean’s are Christians and share the values of western civilization. Hyundai, now a world manufacturing power was founded in 1967 by Chung Ju Yung.

Mr. Chung, interestingly to me, was born in North Korea. These folks are accustomed to making right decisions and growing manufacturing at a fast pace.

In the meantime, I thought you might be interested in checking the references below to reveal the South Korean infusion of optimism and enormous investment in America.

Dick Storm, April 13, 2024

References and Information on Korean Direct Investment into the U.S.A.:

1. Latest PR on Hyundai Metaplant Start of Production: https://www.prnewswire.com/news-releases/hyundai-announces-new-production-start-date-at-metaplant-america-during-hyundai-day-in-georgia-302071754.html
2. Bryan County Business News: https://www.bryancountynews.com/news/hyundai-metaplant-start-production-line-late-2024/
3. Reuters article 2022 announcement of $5.5 Billion investment: https://www.reuters.com/business/autos-transportation/hyundai-launch-55-bln-us-ev-plant-new-law-dims-sales-outlook-2022-10-25/   
4. Hyundai Motor Group, HMG, Wikipedia: https://en.wikipedia.org/wiki/Hyundai_Motor_Group
5. AJC Politics, “First Look, Inside Hyundai’s $7.6 B Meta Plant: https://www.ajc.com/politics/first-look-what-hyundais-76b-ev-metaplant-will-look-like/GHD2DTB46NCS7JHGK5WTQO6GTY/
6.  Georgia Governor Press Release, Feb, 2024: Update on Hyundai Meta Plant and associated Industries: https://www.ajc.com/politics/first-look-what-hyundais-76b-ev-metaplant-will-look-like/GHD2DTB46NCS7JHGK5WTQO6GTY/
7. Korea Business News, Hyundai now #3 Automaker in the world: https://koreajoongangdaily.joins.com/news/2024-02-18/business/industry/Hyundai-Motor-Group-solidifies-position-as-No3-automaker-in-world/1983455
8. Georgia Tech and Hyundai Collaboration on Hydrogen Vehicles: https://techtransfercentral.com/2023/09/26/georgia-tech-and-hyundai-to-collaborate-on-hydrogen-sustainable-mobility-and-workforce-development/
9. LA Times article on Hyundai and Tesla competition, February 2023: https://www.latimes.com/business/story/2023-02-28/hyundai-kia-ev-ira-biden-ioniq
10. Global Atlanta Business News: SK Battery and Hyundai Partnership to create 3500 jobs plus $5B more investment in GA. March 2023: https://www.globalatlanta.com/sk-hyundai-joint-battery-plant-in-bartow-to-hit-5b-filing-shows/
11. Atlanta Business Journal update on Hyundai Plant, June 2023: https://www.bizjournals.com/atlanta/news/2023/06/02/hyundai-savannah-plant-genesis-cars-ev.html
12. Port of Savannah Adds Four Heavy Lift, Ship to Shore Cranes, April 2023: https://www.ttnews.com/articles/port-savannah-four-cranes
13. Port Receives First Shipment, Aug 2023: https://www.savannahnow.com/story/business/automotive/2023/08/14/hyundai-georgia-ports-authority-celebrate-for-shipment-for-meteplant/70588197007/
14. Plan Moves Forward to Raise Talmadge Bridge to provide clearance for larger Panamax Ships, WTOC January 2023: https://www.wtoc.com/2023/01/23/plan-moving-forward-raise-clearance-replace-cables-talmadge-bridge/
15. The Street article on Hyundai competition with Tesla, July 2023: https://www.thestreet.com/electric-vehicles/tesla-rival-hyundai-debuts-model-s-plaid-competitor
16. Georgia Power’s Plant Vogtle, Largest Nuclear Generating Plant in the U.S. : https://www.georgiapower.com/company/energy-industry/generating-plants/plant-vogtle.html
17. Hyundai pulling out of China https://www.bloomberg.com/news/articles/2023-08-23/china-s-bustling-car-market-is-a-rare-black-mark-on-hyundai-s-blockbuster-year#xj4y7vzkg
18. Hospital for Hyundai Metaplant GA https://www.wtoc.com/2023/07/10/st-josephscandler-opening-medical-center-new-hyundai-metaplant/
19. Partners with Local Colleges https://www.wsav.com/video/hyundai-partners-with-local-colleges-to-expand-student-opportunities/8975182/
20. Hyundai Partnering with workforce training https://www.savannahtribune.com/articles/hyundai-motor-group-metaplant-america-savannah-technical-college-sign-memorandum-of-understanding-for-training-partnership/  
21.  Total Related Investments Now at $ 12 Billion https://www.hyundai.news/eu/articles/press-releases/georgia-tech-and-hyundai-sign-mou-for-future-mobility-collaboration.html
22.  Texas Investments by Korean companies: https://businessintexas.com/wp-content/uploads/2023/02/SouthKorea-Profile-2023Jan.pdf  
23. Sam Sung to invest $200 Billion in U.S. : https://www.businesskorea.co.kr/news/articleView.html?idxno=97177
24. Automotive News on Hyundai Pulling Out of China, January 2024: https://www.autonews.com/china/hyundai-unloads-china-assembly-plant-225-million#:~:text=Hyundai%20Motor%20Co.’s%20China,listed%20for%20sale%20in%20August.
25. The Reality of Electrifying Everything, Dick Storm’s Opinion and research,  April 9, 2024: https://dickstormprobizblog.org/2024/04/09/the-reality-of-electrifying-everything-and-the-primary-energy-required-to-generate-the-electricity/
26. Full History of Hyundai and Mr. Chung, You Tube: https://www.youtube.com/watch?v=YYk2HJtkQCA
27. Business Chronicles, You Tube History since Hyundai autos, unreliable early days to becoming the #3 carmaker in the world: https://www.youtube.com/watch?v=5tTLaZ4j8Ws
28. Korea Energy Profile by IEA. A reminder that a growing economy requires enormous use of energy. Here is where South Korea obtains their energy: https://www.iea.org/countries/korea
29. Georgia Electricity Demand is Growing Faster Than expected, Twitter feed, April 2024: https://twitter.com/JunkScience/status/1765738887568097719/photo/1
30. Electrifying Everything, requires more electricity generation, Quanta Technology Study Report on Power Generation Shortages, report for America’s Power, Feb. 2024: https://americaspower.org/wp-content/uploads/2024/02/Quanta-Final-Feb-2024-3.pdf
31. Georgia Power IRP Revised 2023, April 2024 to show increased growth of electricity Demand:  https://www.georgiapower.com/content/dam/georgia-power/pdfs/company-pdfs/2023-irp-update-main-document.pdf