MOLIT Gears Up for Hyundai’s 2027 Saemangeum Investment

MOLIT Confirms Preparedness for Major Automotive Investment

SEOUL, May 14, 2026 – The Ministry of Land, Infrastructure and Transport (MOLIT) is completing its preparatory framework to support Hyundai Motor Company’s full-scale investment in the Saemangeum area by 2027. Minister Kim Yoon-deok announced today that MOLIT will serve as the lead government agency, providing comprehensive support throughout the entire investment process.

Saemangeum, a vast reclaimed area on South Korea’s southwestern coast, is a government-designated special economic zone aimed at attracting domestic and international investment, particularly in advanced industries. Hyundai Motor’s significant investment is expected to be a major catalyst for the region’s economic development, creating jobs and fostering innovation.

Minister Kim emphasized the importance of a robust preliminary system to ensure a smooth transition for Hyundai’s operations. This includes streamlining administrative procedures, securing necessary infrastructure, and coordinating with various stakeholders to facilitate the automotive giant’s strategic expansion into Saemangeum. MOLIT’s commitment underscores the government’s proactive approach to industrial development and regional growth.

The ministry’s active involvement as the central coordinating body highlights the national importance of this project. It is anticipated that Hyundai’s presence will further establish Saemangeum as a key industrial hub, contributing significantly to South Korea’s manufacturing prowess and attracting further high-tech enterprises to the region in the coming years.

Source: 국토교통부 — Original Article (Korean)