SEPTEMBERASIA BUSINESS OUTLOOK9Hyundai Motor Group (the Group) announced sharply higher US investments amounting to USD 26 billion between the years 2025 and 2028, reinforcing once again South Korea's global industrial dominance and leadership in innovation.The new pledge comes on top of the USD 21 billion announced in March 2025 and comprises an added USD 5 billion in strategic sectors of automotive, steel, and robotics.The Group stated the plans are to generate 25,000 direct U.S. jobs that will enhance both economies.The key highlight is the construction of a new steel mill in Louisiana, strengthening supply chains in the United States while demonstrating Korea's cutting-edge steelmaking capabilities. The Group will also greatly increase U.S. auto production capabilities by Hyundai Motor Company and Kia Corporation, allowing for greater responsiveness to consumer needs in America. Moreover, a cutting-edge robotics center with a 30,000-unit annual capacity will see the Group leading the way in robotics design, testing, and implementation."This investment is an expression of our confidence in the United States as a key partner for Korea's long-term industrial development. It also shows how Korean innovation is directly contributing to global supply chains and sustainable industries," added a Hyundai Motor Group spokesman in Seoul.The Group will also speed up technology commercialization through Boston Dynamics and Motional while strengthening partnerships with American companies in AI, robotics, and autonomous driving."Since arriving in the U.S. in 1986, Hyundai has been a bridge connecting Korea and America. This ambitious move reaffirms our dual dedication to Korea's technological leadership and America's economic strength," the spokesman said. Saudi Acwa Power raised SAR12.8 billion (USD 3.4 billion) from a group of domestic and foreign lenders to fund the building of two big gas-fired combined-cycle power plants, the company reported in a stock exchange filing.The projects -- Rumah 1 in Riyadh and Nairiyah 1 in the Eastern Province will boast an aggregate generation capacity of 3,600 megawatts (MW).Acwa Power will develop, build, own, and operate the facilities, keeping a 35 percent equity stake.The Saudi Electricity Company and Korea Electric Power Corporation will each take a 35 percent and 30 percent stake, respectively. "Our clients don't just need software; they need software that works efficiently, securely, and at scale. The AI Risk Matrix is a natural extension of our commitment to agility, innovation, and quality." says Agile Labs' CEOWith the acceleration of digital transformation in Southeast Asia, Agile Labs is well-positioned as the go-to partner for enterprises looking for smarter, more resilient software solutions.The lending parties are the Export-Import Bank of Korea, Saudi National Bank, Saudi Investment Bank, Banque Saudi Fransi, Standard Chartered Bank, Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and the Arab Petroleum Investments Corporation.Acwa Power CEO Marco Arcelli said the transaction highlighted the momentum of the company's digital transformation and growth. "We have doubled the size of the company in the last three years and we are still firmly on track to double it again over the next five, hitting our USD 250 billion target by 2030," he added.In the first half of 2025, the firm posted a 2 percent year-over-year fall in net profit to SAR909 million (USD 242 million), even as revenues climbed 32 percent to SAR3.7 billion. Project borrowing has increased by 28 percent to SAR4.6 billion at June end. Saudi Arabia's Public Investment Fund holds 44.16 percent in Acwa Power. HYUNDAI MOTOR GROUP TO INVEST USD 26 BN IN US BY 2028ACWA POWER SECURES USD 3.4BN TO BUILD TWO SAUDI POWER PLANTSNEWSROOM· Hyundai Motor Group to invest USD 26 bn in US between 2025 to 28· The new establishment will include new steel mill, expanded auto capacity, and robotics hub· 25,000 new US jobs expected which will be strengthening Korea and US industrial ties· Acwa Power raises SAR12.8bn (USD 3.4bn) to build two gas-fired plants· Projects Rumah 1 and Nairiyah 1 to add 3,600 MW capacity· CEO targets USD 250bn valuation by 2030 and PIF holds 44.16 percent stake
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