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Taking cue from new president, South Korean companies pivot to U.S.

Hyundai, Samsung step up American investments as Chinese sales slump

Hyundai Motor Group Executive Chairman Chung Eui-sun and U.S. President Joe Biden greet each other in Seoul.   © Reuters

SEOUL -- Samsung, Hyundai Motor and other South Korean tech players are turning to the U.S. with big investments as Chinese sales slow, emboldened by new President Yoon Suk-yeol's push to bolster relations with Washington.

Hyundai Motor Executive Chairman Chung Eui-sun met visiting U.S. President Joe Biden at his hotel in Seoul on Sunday to personally convey the automaker's plans to open a new American electric vehicle factory.

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