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Hundreds detained at Georgia’s top economic development project

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Immigration authorities said Friday they detained 475 people, most of them South Korean nationals, when hundreds of federal agents raided the sprawling manufacturing site in Georgia where Korean automaker Hyundai makes electric vehicles.

Steven Schrank, the lead Georgia agent of Homeland Security Investigations, said during a news conference Friday that the raid resulted from a monthslong investigation into allegations of illegal hiring at the site and was the “largest single site enforcement operation” in the agency’s two-decade history.

The Thursday raid targeted one of Georgia’s largest and most high-profile manufacturing sites, where Hyundai Motor Group a year ago began manufacturing electric vehicles at a $7.6 billion plant. The site employs about 1,200 people in an area about 25 miles (40 kilometers) west of Savannah where bedroom communities bleed into farms. Gov. Brian Kemp and other officials have touted it as the state’s largest economic development project.

Agents focused their operation on an adjacent plant that’s still under construction at which Hyundai has partnered with LG Energy Solution to produce batteries that power EVs.

Court records filed this week indicated that prosecutors do not know who hired what it called “hundreds of illegal aliens.” The identity of the “actual company or contractor hiring the illegal aliens is currently unknown,” the U.S. Attorney’s Office wrote in a Thursday court filing.

South Korean government expresses ‘concern’

The South Korean government expressed “concern and regret” over the operation targeting its citizens.

Koreans are rarely caught up in immigration enforcement compared to other nationalities. Only 46 Koreans were deported during the 12-month period that ended Sept. 30, 2024, out of more than 270,000 removals for all nationalities, according to Immigration and Customs Enforcement.

“The business activities of our investors and the rights of our nationals must not be unjustly infringed in the process of U.S. law enforcement,” South Korean Foreign Ministry spokesperson Lee Jaewoong said in a televised statement from Seoul.

Lee said the ministry is dispatching diplomats from its embassy in Washington and consulate in Atlanta to the site, and planning to form an on-site response team.

Immigration attorney Charles Kuck said two of his clients who were detained had arrived from South Korea under a visa waiver program that enables them to travel for tourism or business for stays of 90 days or less without obtaining a visa.

One of his clients, he said, has been in the U.S. for a couple of weeks, while the other has been in the country for about 45 days. He did not provide details about the kind of work they were doing but said they had been planning to go home soon.

Schrank told reporters in Savannah that while some of the detained workers illegally crossed the U.S. border, others had entered the country legally but had expired visas or had entered on a visa waiver that prohibited them from working. He said some of those detained worked for the battery manufacturer, while others were employed by contractors and subcontractors at the construction site.

Schrank said he didn’t know precisely how many of the 475 detained were Korean nationals, but that they made up a majority. No one has yet been charged with any crimes, he said, but the investigation is ongoing.

“This was not a immigration operation where agents went into the premises, rounded up folks, and put them on buses,” Schrank said. “This has been a multi-month criminal investigation where we have developed evidence and conducted interviews, gathered documents and presented that evidence to the court in order to obtain a judicial search warrant.”

He said most of the detainees were taken to an immigration detention center in Folkston, Georgia, near the Florida state line.

Trump administration has undertaken sweeping ICE operations

President Donald Trump’s administration has undertaken sweeping ICE operations as part of a mass deportation agenda. Immigration officers have raided farms, construction sites, restaurants and auto repair shops.

The Pew Research Center, citing preliminary Census Bureau data, says the U.S. labor force lost more than 1.2 million immigrants from January through July. That includes people who are in the country illegally as well as legal residents.

The Democratic Party of Georgia on Friday condemned the raid, with its chair, Charlie Bailey, calling the raids, “politically-motivated fear tactics designed to terrorize people who work hard for a living, power our economy and contribute to the communities across Georgia that they have made their homes.”

Kemp and other Georgia Republican officials, who had courted Hyundai and celebrated the EV plant’s opening, issued statements Friday saying all employers in the state were expected to follow the law.

The Hyundai site sits on 3,000 acres (1,214 hectares) in a largely rural area of Bryan County, drawing in workers from several surrounding counties and communities including Savannah.

Ellabell resident Tanya Cox, who lives less than a mile from the Hyundai site, said she had no ill feelings toward Korean nationals or other immigrant workers at the site. But few neighbors were employed there, and she felt like more construction jobs at the battery plant should have gone to local residents.

“I don’t see how it’s brought a lot of jobs to our community or nearby communities,” Cox said. “Where we used to hear birds chirping and animal life around here, now we hear the plant when it’s fully going at night.”

Hyundai began producing electric vehicles at the site last September. A few months later, Hyundai Motor Group Executive Chairman Euisun Chung during a White House appearance with Trump credited the president with the company’s decision to create more American jobs by building an EV factory in Georgia.

“Our decision to invest in Savannah, Georgia, creating more than 8,500 American jobs, was initiated during my meeting with President Trump in Seoul in 2019,” Chung said at the March event.

Battery plant slated to open next year

The battery plant operated by HL-GA Battery Co., a joint venture by Hyundai and LG Energy Solution, is slated to open next year.

In a search warrant and related affidavits, agents said they wanted employment records for current and former workers; personnel files; payroll information; bank account information; timecards; video and photos of workers; and immigration documents. Social security cards, visas, passports and birth certificates also were targeted. The agents also sought records about the ownership and management of multiple construction companies and contractors named in the search warrant materials.

The documents included the names and photos of four people identified as “target persons” to be searched, without further information about them.

In a statement to The Associated Press, LG said it was “closely monitoring the situation and gathering all relevant details.” It said it couldn’t immediately confirm how many of its employees or Hyundai workers had been detained.

Operations at Hyundai’s EV manufacturing plant weren’t interrupted by the raid, said plant spokesperson Bianca Johnson. Hyundai Motor Company said in a statement Friday it was “working to understand the specific circumstances” of the raid and detentions.

“As of today, it is our understanding that none of those detained is directly employed by Hyundai Motor Company,” the company’s statement said.

HL-GA Battery Co. did not immediately respond to a request for comment Friday. In a statement Thursday, the company said it’s “cooperating fully with the appropriate authorities.”

Those arrested Thursday who fight deportation may be detained as their cases wind through immigration court. The number of people in ICE custody topped 60,000 in August, an all-time high.



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Hotels allege predatory pricing, forced exclusivity in Trip.com antitrust probe

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China’s hotels are welcoming record numbers of travelers, yet room rates are sinking—a paradox many operators blame on Trip.com Group Ltd.

For Gary Huang, running a five-room homestay in the scenic Huzhou hills near Shanghai was supposed to secure his family’s financial future. Instead, he and other hoteliers in China’s southeastern Zhejiang province say nightly rates have fallen to levels last seen more than a decade ago, as Trip.com’s frequent discount campaigns force them to cut prices simply to remain visible on China’s dominant booking platform.

“The promotion campaigns now are almost a daily routine,” said Huang, who asked to use his self-given English name out of concern of speaking out against Trip.com. “We have to constantly cut prices at least 15% to attract travelers. We have no choice but to go along with the price cuts.”

Trip.com has been central to China’s post-pandemic travel rebound, connecting millions of travelers with small operators like Huang. But for many hotels, visibility—and sometimes survival—comes at the expense of profits.

That dynamic is now at the heart of Beijing’s antitrust probe. Regulators allege Trip.com is abusing its market position, with analysts citing deflation across the sector as the government’s main concern. Interviews with lodging operators, industry groups and travel consultants describe a system where constant price-cutting and opaque policies are eroding profitability, even as demand rebounds.

Trip.com has said it’s cooperating with the government’s investigation. The company’s stock dove more 16% since the probe was announced a week ago. 

Revenue per room—a key hotel metric—was flat across China in 2025, even as other Asian markets saw gains, according to Bloomberg Intelligence. Marriott International Inc.’s revenue per room in China fell 1% most of last year, while Hilton’s China room revenue trailed its regional peers.

The company controls about 56% of China’s online travel market, according to China Trading Desk, and has grown into the world’s largest booking site. Its dominance has helped fuel domestic tourism’s recovery—nearly 5 billion trips were logged in the first three quarters of 2025—but operators say the benefits are being offset by falling room yields.

“The market has developed unevenly and innovation is lacking due to monopolistic practices,” said He Shuangquan, head of the Yunnan Provincial Tourism Homestay Industry Association that represents some 7,000 operators. “The entire online travel agency sector is stagnating in a pool of dead water.”

‘Pick-one-of-two’

The broader challenge is oversupply and cautious consumer spending. In regions like Yunnan, hotel capacity has tripled since the pandemic, just as travelers tightened budgets. Consultants note that while people are traveling more, they’re spending less—leaving hotels slashing rates to fill empty beds and posting billions in losses.

For operators like Huang, the paradox is stark: the platform that delivers customers is also accelerating the race to the bottom. The complaints center around Trip.com’s “er xuan yi,” Mandarin for pick-one-of-two exclusivity arrangements—a practice that Chinese regulators have repeatedly vowed to stamp out.

Trip.com categorizes merchants into tiers with “Special Merchants” enjoying the most visibility and traffic, Yunnan Provincial Tourism’s He said. However, these top-tier merchants are typically prohibited from listing on rival platforms like Alibaba’s Fliggy, ByteDance’s Douyin or Meituan. Merchants who aren’t bound by these exclusive arrangements report being effectively compelled to offer the lowest prices on Trip.com’s online booking platform Ctrip, or risk facing a raft of measures like lowered search rankings.



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CEOs at Davos are buying into the agentic AI hype

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Good morning. The atmosphere here at the World Economic Forum in Davos is all about nervous excitement as the Trump administration descends on the normally quaint but currently chaotic ski town in the Alps.

President Donald Trump will be making remarks just a couple hours from now, and Fortune will be reporting live from USA House on the main promenade, with insights from government officials and chief executives during and immediately following the president’s conversation. Keep an eye on our livestream, here https://fortune.com/2026/01/21/ceos-davos-buy-into-the-agentic-ai-hype/.

Elsewhere around town, CEOs are setting their agendas for the year. Here’s what’s top of mind for a few of them:

This will actually be the year of agentic AI. The first time I heard the term “agentic AI” was at Davos last year. For all the hype around it, does the average CEO really know what it is or how to deploy it? And is AI good enough yet for agents to replace or even significantly assist human employees? The answer appears to be yes. Google Gemini head Demis Hassabis told me that Gemini 3 achieved some milestones that allow agentic AI to truly proliferate in terms of its capabilities. ServiceNow CEO Bill McDermott is also an emphatic “yes,” and says he is already using it to do things like automate his IT department (without doing layoffs, he stresses; he says he has repurposed employees instead). He thinks other CEOs are ready to do the same.

Get ready for Google glasses—for real, this time. A decade ago, Google launched its Google Glass eyewear to widespread mockery. Hassabis thinks the timing was just off; at the time there was no super app to go on the platform. AI has changed that, and Hassabis is bullish on Gemini glasses being the future form for consumer AI. Meta is betting the same thing, and OpenAI is also reportedly considering a super-device, but it doesn’t seem like either can match Gemini’s capabilities any time soon.

There’s artificial intelligence, and now there’s also “energy intelligence.” Schneider Electric CEO Olivier Blum says that nailing energy intelligence is his mission this year. By that he means he wants to capture data from various energy sources into a single “data cube,” filter it, and use agentic AI so customers can manage it all in one place to find opportunities to save power and money. “Our job is to make sure we go to the next level of energy technology to make energy more intelligent,” he told me yesterday. If he can achieve it, he sees a 7%-10% annual growth opportunity ahead.

Greenland: national panic or national security risk? I’ve heard various reactions to President Trump’s desire for a full U.S. takeover of the huge islandfrom outrage to vigorous support. If he does get his wish (which some here think is likely), could Europe retaliate by making life harder and more restrictive for big U.S. tech companies? That was one CEO’s consideration. Said another: “Clear-eyed people can agree that that is a national security concern. And having a national security concern is not just a U.S. concern, it’s also a NATO concern.” They were optimistic that the in-person meetings this week would help move the matter in a positive direction. You can follow all our Davos coverage—including Fortune live interviews today with Ray Dalio, Dara Khosrowshahi and more—right here.—Alyson Shontell

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

Top news

The crisis CEOs can’t ignore

The annual Edelman Trust Barometer, revealed at Davos every year, shows an “insular” mindset permeating the business world, with 70% of respondents not wanting to talk to, work for, or even be in the same space with anyone with a different world view. Richard Edelman says CEOs must adopt a sense of urgency in addressing the crisis; they need to sense that “time is running out.”

The Fortune 2026 World’s Most Admired Companies list

Fortune published the 2026 World’s Most Admired Companies this week, an annual ranking in collaboration with Korn Ferry that surveys executives, directors, and analysts across a range of industries. Apple made the top of the list among leaders in all industries for the 19th year in a row—read who else made the cut.

Netflix co-CEOs boost the case for the Warner Bros. deal

Netflix co-CEOs Ted Sarandos and Greg Peters praised the streaming company’s planned acquisition of Warner Bros. Discovery during its earnings call on Tuesday, selling the deal as a boost to its streaming business and a production boost for America. Investors, however, remain worried that the deal will push Netflix away from its core business, and the stock dropped almost 5% after hours.

The markets

S&P 500 futures are up 0.19% this morning. The last session closed down 2.06%. STOXX Europe 600 was down 0.41% in early trading. The U.K.’s FTSE 100 was down 0.02% in early trading. Japan’s Nikkei 225 was down 0.41%. China’s CSI 300 was up o.09%. The South Korea KOSPI was up 0.49%. India’s NIFTY 50 was down 0.3%%. Bitcoin was at $89K.

Around the watercooler

What Walmart’s CEO succession reveals about the smartest time to exit by Ruth Umoh

Americans are paying nearly all of the tariff burden as international exports die down, study finds by Jacqueline Munis

The 9 most disruptive deals of Trump’s first year back in the White House by Geoff Colvin

Gen Z’s nostalgia for ‘2016 vibes’ reveals something deeper: a protest against the world and economy they inherited by Nick Lichtenberg and Eva Roytburg

CEO Daily is compiled and edited by Joey Abrams, Claire Zillman and Lee Clifford.



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Gates Foundation, OpenAI unveil $50 million ‘Horizon1000’ initiative to boost healthcare in Africa through AI

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In a major effort to close the global health equity gap, the Gates Foundation and OpenAI are partnering on “Horizon1000,” a collaborative initiative designed to integrate artificial intelligence into healthcare systems across Sub-Saharan Africa. Backed by a joint $50 million commitment in funding, technology, and technical support, the partnership aims to equip 1,000 primary healthcare clinics with AI tools by 2028, Bill Gates announced in a statement on his Gates Notes, where he detailed how he sees AI playing out as a “gamechanger” for expanding access to quality care.

The initiative will begin operations in Rwanda, working directly with African leaders to pioneer the deployment of AI in health settings. With a core principle of the Foundation being to ensure that people in developing regions do not have to wait decades for new technologies to reach them, the goal in this partnership is to reach 1,000 primary health care clinics and their surrounding communities by 2028.

“A few years ago, I wrote that the rise of artificial intelligence would mark a technological revolution as far-reaching for humanity as microprocessors, PCs, mobile phones, and the Internet,” Gates wrote. “Everything I’ve seen since then confirms my view that we are on the cusp of a breathtaking global transformation.”

Addressing a Critical Workforce Shortage

The impetus for Horizon1000, Gates said, is a desperate and persistent shortage of healthcare workers in poorer regions, a bottleneck that threatens to stall 25 years of progress in global health. While child mortality has been halved and diseases like polio and HIV are under better control, the lack of personnel remains a critical vulnerability.

Sub-Saharan Africa currently faces a shortfall of nearly 6 million healthcare workers, ” a gap so large that even the most aggressive hiring and training efforts can’t close it in the foreseeable future.” This deficit creates an untenable situation where overwhelmed staff must triage high volumes of patients without sufficient administrative support or modern clinical guidance. The consequences are severe: the World Health Organization (WHO) estimates that low-quality care is a contributing factor in 6 million to 8 million deaths annually in low- and middle-income countries.

Rwanda, the first beneficiary of the Horizon1000 initiative, illustrates the scale of the challenge. The nation currently has only one healthcare worker per 1,000 people, significantly below the WHO recommendation of four per 1,000. Gates noted that at the current pace of hiring and training, it would take 180 years to close that gap. “As part of the Horizon1000 initiative, we aim to accelerate the adoption of AI tools across primary care clinics, within communities, and in people’s homes,” Gates wrote. “These AI tools will support health workers, not replace them.”

AI as the ‘Third Major Discovery

Gates noted comments from Rwanda’s Minister of Health Dr. Sabin Nsanzimana, who recently announced the launch of an AI-powered Health Intelligence Center in Kigali. Nsanzimana described AI as the third major discovery to transform medicine, following vaccines and antibiotics, Gates noted, saying that he agrees with this view. “If you live in a wealthier country and have seen a doctor recently, you may have already seen how AI is making life easier for health care workers,” Gates wrote. “Instead of taking notes constantly, they can now spend more time talking directly to you about your health, while AI transcribes and summarizes the visit.”

In countries with severe infrastructure limitations, he wrote, these capabilities will foster systems that help solve “generational challenges” that were previously unaddressable.

As the initiative rolls out over the next few years, the Gates Foundation plans to collaborate closely with innovators and governments in Sub-Saharan Africa. Gates wrote that he himself plans to visit the region soon to see these AI solutions in action, maintaining a focus on how technology can meet the most urgent needs of billions in low- and middle-income countries.



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