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Old 12-08-2022, 11:17 AM
 
1,374 posts, read 922,143 times
Reputation: 2497

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More investment in Georgia by the big Korean chaebols (Conglomerates)

South Korean conglomerates SK Innovation and Hyundai Motor Group plan a sprawling electric vehicle battery plant in Bartow County, northwest of Atlanta, a project that is expected to create more than 3,500 jobs and rank as the third-largest corporate investment in state history, Gov. Brian Kemp’s office announced Thursday.

The joint venture between SK subsidiary SK On and Hyundai adds luster to Georgia’s stature as an emerging EV and battery manufacturing hub, which shows no signs of slowing down as automakers bet their futures on electrification. And the project is in addition to multibillion-dollar investments SK and Hyundai have already announced in Georgia.

SK already operates a massive battery plant in Jackson County, about 70 miles northeast of Atlanta along I-85. Hyundai, meanwhile, is building a $5.54 billion EV factory near Savannah where the company expects to build battery-powered Hyundai, Kia and Genesis models starting in 2025.

In a sign of how rapidly the EV sector is expected to grow, the news release said the new $4 billion to $5 billion battery plant will serve Hyundai’s existing manufacturing plants in the U.S., which include a Kia factory in West Point and a Hyundai factory in Alabama.

https://www.ajc.com/news/sk-and-hyun...CACWLKK33FND4/
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Old 12-08-2022, 11:30 AM
 
689 posts, read 637,620 times
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This is amazing. From what I've read, the relationship between South Korea in Atlanta goes back many decades with multiple governors visiting Korea. It's paid off over the years. I wonder if anyone has mapped out the Korean business presence in GA.
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Old 12-08-2022, 02:09 PM
 
Location: Atlanta's Castleberry Hill
4,768 posts, read 5,435,368 times
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Quote:
Originally Posted by urbancuriosity View Post
This is amazing. From what I've read, the relationship between South Korea in Atlanta goes back many decades with multiple governors visiting Korea. It's paid off over the years. I wonder if anyone has mapped out the Korean business presence in GA.
I think ATL has a large Korean population, which was part of the reason Korean Airlines had brought the Airbus 380 service to Atlanta.
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Old 12-09-2022, 08:17 AM
 
Location: Atlanta Metro
271 posts, read 301,185 times
Reputation: 795
S. Korea now is the largest FDI (Foreign Direct Investment) source in the State of Georgia.

Estimates vary, but largely hearing anywhere from 80-110k S. Koreans living in the State of Georgia. Many more over the state border near Auburn/Montgomery AL where Hyundai/Kia are. I expect an explosion of the Korean population near Savannah and continued explosion northern ATL suburbs (Buford, Suwanee, Duluth, Sugar Hill, Lawrenceville, Johns Creek).

To me this is all great news for Georgia. ATL/Georgia seems to be the new "it" destination for S. Koreans to explore when considering a move to the U.S., whether that's with a Korean company or as an investor from Korea.

Creating jobs for Georgians, can't beat that.
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Old 12-09-2022, 08:30 AM
 
Location: Atlanta Metro
271 posts, read 301,185 times
Reputation: 795
Quote:
Originally Posted by urbancuriosity View Post
This is amazing. From what I've read, the relationship between South Korea in Atlanta goes back many decades with multiple governors visiting Korea. It's paid off over the years. I wonder if anyone has mapped out the Korean business presence in GA.
There are maps/locations of Korean and other FDI (Foreign direct investment) for both Alabama and Georgia online.

https://www.madeinalabama.com/assets...try-Report.pdf

I have to dig up the GA one, but here's a start:
https://www.georgia.org/international/investment

Also, my previous post I mentioned that S. Korea was #1 in FDI to Georgia. I meant to say that S. Korea is #1 in total $$$. Hopefully that doesn't confuse anyone b/c some others like to use # of facilities or # of jobs created as a metric vs. total $ invested.
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Old 12-09-2022, 01:12 PM
 
32,019 posts, read 36,759,555 times
Reputation: 13290
Quote:
Originally Posted by bethereds82 View Post
There are maps/locations of Korean and other FDI (Foreign direct investment) for both Alabama and Georgia online.

https://www.madeinalabama.com/assets...try-Report.pdf

I have to dig up the GA one, but here's a start:
https://www.georgia.org/international/investment

Also, my previous post I mentioned that S. Korea was #1 in FDI to Georgia. I meant to say that S. Korea is #1 in total $$$. Hopefully that doesn't confuse anyone b/c some others like to use # of facilities or # of jobs created as a metric vs. total $ invested.
Man, that Alabama report blows Georgia's out of the water in terms of thoroughness and depth of information. The folks running the show down at the Georgia Department of International Investment need to go back to PR training camp.
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Old 12-09-2022, 01:29 PM
 
Location: PHX -> ATL
6,311 posts, read 6,804,644 times
Reputation: 7167
70 miles out of town… that’s like a 2 hour drive not even Atlanta at that point. Still good news though.
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Old 12-09-2022, 05:27 PM
 
10,392 posts, read 11,478,434 times
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Quote:
Originally Posted by Prickly Pear View Post
70 miles out of town… that’s like a 2 hour drive not even Atlanta at that point. Still good news though.
Just to be clear, the location that you seem to be referring to is the existing SK electric vehicle battery plant complex along I-85 in Jackson County approximately about 65 miles northeast of Downtown Atlanta.

The new EV battery plant development in question (the newly-announced SK/Hyundai EV battery plant in Bartow County) is located only about 50 miles northwest of Downtown Atlanta.

The existing SK EV battery plant complex is about a 1-hour and 15-minute one-way drive (via I-85 northbound) from Downtown Atlanta with no traffic.

The site of the newly-announced SK/Hyundai EV battery plant in Bartow County is about exactly a 1-hour one-way drive from Downtown Atlanta with no traffic.

And even though both of the aforementioned industrial sites may be located dozens of miles from Downtown Atlanta, they are still very much within the orbit of the Atlanta economic universe as it is Atlanta (the population, the economy, the freight rail hub, the Interstate superhighway hub, and the massive Atlanta Airport) that is generating these extremely robust economic development opportunities in greater North Georgia.

Its just these massive industrial developments (SK EV battery plant complex in Jackson County, SK/Hyundai EV Battery plant in Bartow County, Rivian along I-20 East, etc.) are located dozens of miles outside of central Atlanta in most cases because there are much larger chunks of land available to develop at lower prices in those sparsely developed and sparsely populated outer-exurban and rural areas.

Last edited by Born 2 Roll; 12-09-2022 at 05:45 PM..
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