South Korean President Lee Jae Myung has said that companies will be "very hesitant" about investing in the United States in the wake of the arrest of hundreds of South Koreans who were working at a car battery plant construction site in Georgia last week.
The facility is being built by South Korean multinational conglomerate LG and South Korean automobile manufacturing giant Hyundai.
ICE special agents, in collaboration with federal, state and local law enforcement officials, arrested 475 immigrant workers - most of them South Korean nationals - saying that they were executing a federal search warrant as part of "an active, ongoing criminal investigation".
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.