Slate Money The Hyundai ICE Raid
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Sep 13, 2025 This week, a chaotic ICE raid at a Hyundai plant in Georgia raised concerns about foreign investment in the U.S. and strained diplomatic ties with South Korea. Meanwhile, Oracle's stock soared thanks to a groundbreaking AI deal with OpenAI, bringing Larry Ellison close to the title of the world's richest man. The hosts also critique JP Morgan's opulent new skyscraper, comparing it to Vegas hotels, while discussing the evolving landscape of corporate work culture and rising energy costs.
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Hyundai Plant Raid Sparks Diplomatic Crisis
- ICE agents raided a Hyundai plant in Georgia and detained hundreds of South Korean workers, causing diplomatic uproar.
- The workers were later released and flown back on a chartered jet paid for by South Korea.
Visa Gaps Create Investment Risk
- Korea lacks easy temporary work-visa arrangements that other U.S. partners have, creating vulnerability for corporate deployments.
- ICE's strict interpretation of B-1 visas turned routine managerial transfers into immigration enforcement risks.
Secure Visas Before Building Plants
- Companies that need specialized foreign managers should secure clear visa pathways before committing to U.S. projects.
- Governments should negotiate targeted visa agreements to avoid disrupting major investments.