US issues apology for Hyundai immigration raid

Summary

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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)

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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.

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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]

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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.

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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]

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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.

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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

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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.

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Transcript

[A]

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[B]

Learning the right skills could make a difference. That's why our business programs teach you relevant skills you can take from the courseroom to the workplace. A different future is closer than you think with Capella University. Learn [e-mail] the head of Hyundai says the White House has apologized for that mass immigration raid at a Georgia factory. Live from the UK this is the Marketplace Warning report from the BBC World Service. I'm William Lee Adams. Good morning. The chief executive of Hyundai says that the White House phoned him to apologize for an immigration raid at its battery factory in the US state of Georgia in September. More than 300 South Korean workers were detained and later sent back to South Korea, stoking tensions between Washington and Seoul. Chief Executive Jose Munoz was speaking at a conference of business leaders in Singapore, and the BBC's Nick Marsh was there. Nick Hai.

[A]

Hello, William.

[B]

So tell us exactly what Hyundai's boss said.

[A]

Well, he was speaking at the Bloomberg New Economy Forum. I was listening to him speak about trade and tariffs and AI and that sort of thing. And he was asked about this, this raid in a plant in Georgia that Hyundai runs. I don't know if you remember, the images were quite shocking. It was hundreds of South Korean workers shackled on the factory floor. They were detained for a week, sent back to South Korea. And in the end, he says, and 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. And he said he also got a call from the governor of Georgia who said that this was not a state matter, that he didn't really know what had happened, and that he was also sorry. And it kind of struck me because 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, and also, I would say, reflects a genuine concern in the White House that crucial foreign investment in American manufacturing might have been lost.

[B]

How much do you think this apology matters?

[A]

Well, I think things had already been smoothed over, so the majority of these workers have now returned Most of them came back last week. They were basically skilled workers sent by Hyundai from South Korea to set up this new manufacturing plant.

[C]

Right.

[A]

And this is an investment that Donald Trump was very enthusiastic about. He's all about reshoring manufacturing foreign firms if you want to sell to American consumers. But it does reveal something quite interesting. It's these twin impulses, isn't it, William, of this new Trump administration 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. Things do seem to have been smoothed over. The setting up of this plant has resumed. It's going to go ahead. And Jose Munoz, the chief executive of Hyundai, 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.

[B]

We will leave it there. Nick, thanks for joining us on Marketplace.

[A]

My pleasure, William.

[B]

And the BBC has reached out to the White House and the governor of Georgia. No response as yet. Okay, let's do the numbers. The UK's inflation rate fell to 3.6% in the year to October. It's the first decline since March, but remains well above the bank of England's 2% target. And gold futures climbed 0.7% to just under $4,100 per ounce. That snapped four consecutive sessions of losses. China has imposed a ban on all imports of Japanese seafood amid an escalating diplomatic dispute between Asia's two biggest economies. This is the latest Chinese response to remarks by Japan's Prime Minister Sanae Takechi, who suggested that her country could respond militarily if China attacked Taiwan. Over to Ukraine now. President Volodymyr Zelenskyy has vowed to overhaul state owned energy companies as a major corruption scandal engulfs the country's energy sector. Anti fraud investigators say around $100 million has been embezzled, causing outrage where Russian attacks have led to crippling power outages. Ukraine's parliament was due to vote on Tuesday on the dismissal of the energy minister and her predecessor, both of whom deny wrongdoing. But opposition politicians blocked that vote, calling for the entire cabinet to be sacked instead. The BBC's Jonathan Beal joins us from Kyiv. Jonathan.

[D]

Hai.

[C]

Hi there.

[B]

So, Jonathan, tell us what's been going on in Ukraine.

[C]

Well, there's been an investigation by Ukraine's National Anti Corruption Bureau which has been going on for 15 months. And this is focused, focused on allegations that 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. This investigation called Operation Midas, has been going on for 15 months. Thousand hours of wiretap conversations. 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. And there are a number of people who've already come under suspicion and indeed, a number of arrests have been made. And some of those individuals are within the circle. They're ministers and also officials who are in the circle of President Zelenskyy.

[B]

These allegations come as Ukraine enters its fourth winter in this ongoing war. Can you give us a sense of public reaction to the scandal?

[C]

You know, this involves Ukraine's energy infrastructure, which is being targeted heavily by the Russians at the moment as we go into winter and is having a knock on effect. And 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. But I think it's also bad for President Zelenskyy because you have to remember what happened in June this year. He tried to restrict the powers of the two bodies that investigate corruption, essentially undermining their independence. He backed down because there were public protests in the streets. So already there is concern that President Zelensky has tried to curb those powers. He went back after pressure also, we should say, from the European Union, European allies who are concerned about that. And he is saying that he is fully behind this investigation, but still it is damaging to him. At a critical time of the war, Ukraine is under severe threat, not just losing territory on the ground in eastern Ukraine, but also its own infrastructure, its critical electricity, gas supplies, also being heavily targeted by the Russians.

[B]

Jonathan, thanks for joining us on Marketplace.

[C]

Thank you.

[B]

In the UK I'm William Lee Adams with the Marketplace Morning Report from the BBC World Service.

[D]

Imagine a future where chocolate and coffee are rare and expensive, where cheap nutritional staples like corn and wheat are threatened. Sounds unpleasant, doesn't it? Well, we could be heading there if we don't recognize that the climate crisis is also a food crisis.

[B]

I've seen yields drop because of drought and believe me, boy, have I seen them drop.

[D]

We have had dry spells that have lasted years. I'm Amy Scott. This season on how we survive, we investigate how the climate crisis is threatening our most vital food systems and how scientists are racing to develop alternatives that will shape the future of food. Listen to this season of how we survive on your favorite podcast.