South Korea’s Lee Warns US Immigration Raid Threatens Investment

UPDATE: South Korean President Lee Jae Myung urgently warns that a recent US immigration raid, resulting in the detention of over 330 workers, could severely impact billions in investment from South Korea. The raid took place at a Hyundai Motor Co. and LG Energy Solution Ltd. battery plant under construction in Georgia, raising alarms among South Korean businesses and government officials alike.

Speaking at a press conference in Seoul, Lee expressed his concern that the detentions, predominantly affecting 316 South Koreans, have created an atmosphere of uncertainty for companies looking to invest in the US. “This could have a significant impact on future direct investment into the US,” Lee stated emphatically on Thursday, marking his 100th day in office.

The detained workers were in the US on short-term assignments to install vital equipment, a necessity given the current shortage of skilled labor in the United States. Lee expressed his bafflement regarding the raid, emphasizing the need for skilled technicians to facilitate ongoing projects.

The South Korean government is now in urgent discussions with US authorities to address visa issues, aiming to secure more quotas or even establish a new visa category for skilled workers. The fallout from this incident has caused widespread public outrage in South Korea, with images of shackled workers circulating across media platforms.

Reports indicate that the detained workers are expected to be released from US custody by 3 p.m. local time on Thursday and will return to South Korea by Friday afternoon. This swift resolution does little to quell the growing tension between the two nations, especially following a July trade deal that has already strained relations due to a persistent 15% levy on most Korean imports.

This immigration incident comes just weeks after Lee and former President Donald Trump reaffirmed their economic and security partnership during a summit, making the current developments even more troubling. The outcome of the negotiations over worker visas and investment pledges may determine whether South Korean conglomerates will continue their expansion plans in the US.

“We still have a long way to go in the negotiations,” Lee cautioned. “What’s on the surface may look rough, excessive, unreasonable, even irrational, but the final conclusion will come out in a reasonable way.”

As South Korea grapples with the implications of this raid, the immediate future of its investments in the US hangs in the balance. Observers are closely watching how both governments navigate this crisis, as the stakes are high for economic collaboration and mutual growth.

This developing story underscores the urgency of resolving the visa issues to maintain strong investment ties. Stay tuned for more updates as the situation unfolds.