Podcast Summary: Marketplace Morning Report

Episode: US issues apology for Hyundai immigration raid
Date: November 19, 2025
Host: William Lee Adams (Marketplace/BBC World Service)
Duration: ~7 minutes (content only)

Episode Overview

This episode focuses on two major international economic stories:

1. The U.S. government's rare public apology to Hyundai for a mass immigration raid at their Georgia battery factory, exploring its diplomatic and business implications.
2. The latest on a major corruption scandal in Ukraine’s energy sector and its impact amidst ongoing war and Russian attacks.

William Lee Adams delivers overnight business highlights, with contributions from the BBC's Nick Marsh in Singapore and Jonathan Beal in Kyiv.

Segment 1: U.S. Apologizes for Hyundai Immigration Raid

[00:25 – 03:37]

Key Points

• Hyundai CEO Confirmation:
  At the Bloomberg New Economy Forum in Singapore, Hyundai CEO Jose Munoz revealed he received a personal phone call from the White House apologizing for a September immigration raid at their Georgia battery plant. Over 300 South Korean workers were detained and deported, escalating U.S.–South Korea tensions.

• Unprecedented Public Apology:

  • Nick Marsh (BBC):

    “It’s the first time that I’ve heard at least anything publicly in terms of an actual direct apology. It suggests degree of embarrassment that was greater than we previously thought...” [01:59]

  • Both the White House and the Georgia governor’s office expressed regret, according to Munoz.

• Impact on U.S. Investment Climate:

  • The apology signals concern about the effect of the raid on foreign investment, with the White House eager to reassure multinational firms after the incident.
  • While the Trump administration is enthusiastic about reshoring manufacturing and foreign investment, this event highlights a conflict with its strict immigration enforcement stance.
  • Most of the skilled Hyundai workers have now returned, and operations at the plant have resumed.

• Hyundai’s Commitment Unwavering:

  • Nick Marsh:

    “Jose Munoz... was very clear at this conference to point out, look, this hasn't dampened our enthusiasm for investment in the U.S. — in fact, we're going to be doubling down.” [03:24]

Notable Quotes & Exchanges

• On the apology:
  • Nick Marsh:

    “He didn’t say exactly when this happened, but he says he received a phone call from the White House, basically apologizing, saying that they'd got it wrong and, and that they were sorry.” [01:42]

• On mixed U.S. priorities:
  • Nick Marsh:

    “It does reveal something quite interesting — it's these twin impulses, isn't it, William, of ... cracking down on illegal immigration but also encouraging foreign firms to invest in American manufacturing. And this episode is kind of like the confluence of the two.” [03:02]

Segment 2: Global Markets & Major Stories

[03:37 – 04:51]

Key Points

• UK Inflation:
  • Inflation rate fell to 3.6% for October, the first drop since March, but still above the 2% target.
• Gold Prices:
  • Gold futures up 0.7% to under $4,100/oz, ending a four-day losing streak.
• China-Japan Tension:
  • China bans all Japanese seafood imports after Japanese PM Sanae Takechi implied possible military response in case of a Taiwan conflict.

Segment 3: Corruption Scandal in Ukrainian Energy Sector

[04:51 – 07:16]

Key Points

• Investigation Details:

  • As Ukraine faces another winter under Russian assault, a major anti-corruption investigation (“Operation Midas”) targets officials accused of soliciting $100 million in kickbacks related to state-owned nuclear contracts.

• High-Level Implications:

  • Several ministers and officials in President Zelenskyy’s circle under suspicion; arrests have been made.
  • Parliament’s vote to oust the energy minister was blocked by opposition, demanding a broader cabinet shake-up.
    • Jonathan Beal:

      “Individuals can be heard talking about how bags of cash are too heavy to carry... who should get the crisp new dollar bills, who should get the old bills.” [05:25]

• Public & Political Fallout:

  • Scandal undermines confidence at a time when Ukrainian infrastructure is under relentless Russian attack.
  • Adds further pressure on Zelenskyy, who had previously tried to restrict anti-corruption bodies’ independence but backtracked under protest and EU pressure.
  • Jonathan Beal:

    “It is damaging to him [Zelenskyy] at a critical time of the war, Ukraine is under severe threat, not just losing territory… but also its own infrastructure, its critical electricity, gas supplies, also being heavily targeted by the Russians.” [06:48]

Notable Quotes

• On the scale of corruption:

  • Jonathan Beal:

    "...government officials and business figures were conspiring to force Ukraine's nuclear power company to pay kickbacks of between 10 and 15% to secure contracts. We're talking about big sums of money here, $100 million." [05:01]

• Public outrage:

  • “The fact that it seems that some individuals have been profiting, trying to get kickbacks from an infrastructure that's under threat, is not good...” – Jonathan Beal [06:08]

Memorable Moments

• First Public U.S. Apology:
  Hyundai CEO’s revelation of a direct White House apology marks a significant diplomatic move, rarely made public, indicating the high stakes for foreign investment reputation.
• Ukrainian Wiretap Details:
  Vivid details from “Operation Midas,” such as suspects discussing whether “bags of cash are too heavy to carry,” illustrate the scale and brazenness of the alleged corruption.

Timestamps for Important Segments

• [00:25-03:37] U.S. apology to Hyundai and business implications
• [03:37-04:51] Global market updates, China–Japan, UK inflation
• [04:51-07:16] Ukraine corruption scandal
• [01:42, 01:59, 03:02, 03:24, 05:01, 05:25, 06:08, 06:48] Notable quotes and insights

Flow & Tone

The episode remains brisk, concise, and informative, with a global outlook and a slightly urgent tone reflecting the real-time business and political tensions discussed. Interviews are direct, with expert correspondents offering grounded perspective and inside detail.