Immigration and Customs Enforcement’s Homeland Security Investigations executed its largest single-site raid on Thursday, detaining 475 workers at the Hyundai Motor Co. (OTC:HYMTF)-LG Energy Solution Ltd. battery manufacturing facility under construction in Georgia.
The operation, dubbed “Low Voltage,” deployed over 400 federal agents to the site, according to The Register report. HSI Special Agent in Charge Steven Schrank called it “the largest single-site enforcement operation in the history of Homeland Security Investigations.”
$12.6 Billion Investment at Risk
The raid targeted workers at Hyundai’s joint venture battery plant, part of a $12.6 billion South Korean investment package in Georgia’s electric vehicle manufacturing sector. The facility supports Seoul-based Hyundai’s Metaplant America EV factory, which opened in March on 3,000 acres.
U.S. Attorney Margaret Heap stated the operation aimed to “reduce illegal employment and prevent employers from gaining an unfair advantage by hiring unauthorized workers,” the report stated.
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Diplomatic Tensions Escalate
South Korea’s Foreign Ministry condemned the raid, dispatching diplomats to assist detained nationals. The ministry demanded Washington respect Korean citizens’ rights, stating, “economic activities of Korean investment companies and the rights and interests of Korean citizens must not be unfairly infringed upon.”
Reports indicate some detained workers held valid U.S. visas, including LG Energy Solution staff visiting from South Korea, according to the report.
Market Implications
The raid raises regulatory compliance risks for foreign manufacturers in the US EV supply chain. The operation follows broader Trump administration enforcement targeting $6.1 billion in immigration fines and a 1.2-million-worker labor shortage, potentially driving inflation to 4%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
