Hyundai Motor Group revealed it plans to increase its investment in the United States to $26 billion by 2028, reinforcing its presence in the U.S. automotive, steel, and robotics segments while indicating South Korea’s growing economic relationship with Washington. This loyalty marks a $5 billion increase over the $21 billion package disclosed in March.

Under the new plan, a steel mill facility is being constructed in Louisiana, adding to its automobile manufacturing facilities and a robotics facility that can produce 30,000 units a year. The combined projects are expected to create 25,000 new jobs. The announcement came as the two nations’ leaders, South Korean President Lee Jae-myung and U.S. President Donald Trump, met for the first time during a summit and pledged to work together to increase trade, security, and stability in the region, focusing on North Korea. While using U.S. taxpayer dollars, Trump also pledged to buy South Korean ships, and he wanted to provide the capability of supporting the two nations´ alliance.

During Lee’s U.S. visit, many other South Korean companies also made significant commitments. Korean Air Lines Co., for example, agreed to a purchase of over 100 Boeing aircraft worth $36.2 billion, while Korea Gas Corp. committed to increasing its liquefied natural gas imports from the United States. The South Korean government also pledged $350 billion in investments in the United States, which included a $150 billion fund to revive its American shipbuilding industry.

As noted above, the trade deal signed last month maintained a 15% tariff on Korean exports, significantly lower than the 25% tariff that Washington threatened. For South Korea, which is very export dependent, this was perceived as a critical protection against the trade tariffs and is needed for its economy.

Hyundai, which entered the U.S. market in 1986, has bound over $20.5 billion to date. The most recent announcement reinforces the plans from Seoul to smooth its frictions with Washington and function as a leader in the U.S. supply chain with its leading conglomerates. After the announcement, Hyundai shares dipped 1.1%, and the Korea Composite Stock Price Index dropped by 1%.