U.S. President Joe Biden and Hyundai Motor Group Chairman Chung Euisun / Reuters-Yonhap and Courtesy of Hyundai Motor Group

By Baek Byung-yeul

U.S. President Joe Biden will meet Chung Euisun, chairman of Hyundai Motor Group, during his three-day visit to Korea to thank him for investing in the state of Georgia, a White House official said Friday (KST).

National Security Advisor Jake Sullivan said that President Biden will have a meeting with Chung in Seoul, May 22, to express his gratitude for the $7 billion investment in the U.S. state.

The U.S. president will visit Korea for three days from Friday to Sunday. Reuters also reported that Georgia Governor Brian Kemp will officially announce Friday (local time) Hyundai Motor Group's plan to build a factory in his state dedicated to producing electric vehicles (EVs).

The new factory is expected to create around 8,500 jobs. Hyundai Motor and Kia, the two car brands of the group, already operate car-manufacturing factories in Alabama and Georgia, respectively.