Their private, closed-door meeting was reportedly held the previous day, although Cheong Wa Dae declined to confirm details, saying it was difficult to verify the president's private schedule.
The two apparently discussed the automaker's planned investment worth 9 trillion won (about US$6.6 billion) in Saemangeum, North Jeolla Province, announced in February this year, where the conglomerate plans to build a major hub for projects in robotics, artificial intelligence (AI), and hydrogen energy.
The project is part of the Lee administration's three mega projects, which aim to build an AI industry ecosystem by linking semiconductors, physical AI and AI data centers, while creating new high-tech industrial hubs in provincial areas to promote balanced regional development.
Lee and Chung may have also discussed infrastructure and regulatory support for the projects, as well as ways to secure skilled workers.
They also likely discussed trade issues and U.S. tariff pressure, as Hyundai Motor Group tries to balance heavy investment in South Korea with the expansion of its production and supply chains in the U.S.
Lee's meeting with Chung is part of a series of informal gatherings with leaders of major conglomerates, following talks with SK Group Chairman Chey Tae-won on Aug. 20 and Samsung Electronics Chairman Lee Jae-yong about a week later.
AJP Takeaways
• President Lee Jae Myung met Hyundai Motor Group chairman Chung Eui-sun on Sept. 2, 2026, in Seoul for a private meeting reportedly focused on Hyundai Motor Group's domestic investment plans, trade issues and U.S. tariff pressure.
• Hyundai Motor Group plans to invest 9 trillion won (about $6.6 billion) in Saemangeum, North Jeolla Province. The project includes a major hub for robotics, artificial intelligence and hydrogen energy and is part of the Lee administration's three "mega projects" aimed at developing South Korea's AI industry and regional high-tech hubs.
• The meeting was part of President Lee Jae Myung's recent private talks with major business leaders. Lee also met SK Group chairman Chey Tae-won on Aug. 20, 2026, and Samsung Group chairman Lee Jae-yong about a week later, as the government seeks closer coordination with major conglomerates on investment and industrial policy.
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