Hyundai Motor Group establishes a dedicated task force to spearhead a massive 9 trillion won investment in the Saemangeum Reclamation Project, marking its largest single-project organization to date.
Launch of RH PMO Task Force
During a review meeting on March 31 at the Ministry of Land, Infrastructure and Transport, Shin Sung-gu, vice president of Hyundai Motor Group, announced the creation of the ‘RH (Robot & Hydraulogen) PMO (Project Management Office).’ This internal unit deploys three executives and approximately 40 full-time staff to manage the nationwide investor collaboration.
Shin emphasized, “This represents the first full-scale dedicated organization for a single investment project of this magnitude at Hyundai Motor.” He added that the team ensures thorough preparation, even if challenges arise with the investor.
Background and MOU Signing
On January 27, Hyundai Motor signed a memorandum of understanding (MOU) with central government ministries, the Jeonbuk Special Self-Governing Province, the Saemangeum Office, and the investor. This agreement adjusts the project to a 9 trillion won scale, focusing on advanced industries like AI, digital operations, and robotics.
The initiative stands out as Jeonbuk’s largest single-enterprise investment post-special status. Shin noted, “We express deep gratitude for the legitimate cooperation between the province and the Saemangeum Office, which secures this major corporate commitment.”
Site Selection Criteria
Despite structural hurdles like real estate market fluctuations delaying business launches, Hyundai completed outreach to 101 locations nationwide. It prioritized 57 key sites based on ‘stable full-year sales volume.’
“We evaluated the abundant new energy in the Saemangeum region’s surroundings and aligned the investor accordingly,” Shin stated. He highlighted that development surveys for access roads and major factory requirements form the core criteria.
Next Steps and Confidence
Post-confirmation, detailed site surveys will proceed sequentially. Hyundai adjusts investment scales amid broader uncertainties through partnerships with local governments and secures comprehensive sales pipelines for factories.
Shin expressed optimism: “Witnessing the enthusiasm from Jeonbuk residents boosts our confidence—this project promises significant success. Our internal talent pool ensures real factories get built effectively.”
