South Korea’s leading steelmaker POSCO is evaluating an investment in Hyundai Steel’s upcoming electric arc furnace steel plant to be built in the US state of Louisiana. The investment is viewed as part of broader efforts by South Korean companies to boost local production capacity in response to the 25% tariffs imposed by the US government on steel imports.
Hyundai Motor Group plans to invest approximately USD 5.8 billion in the facility, which is expected to begin operations in 2029, with half of the funding to be sourced from external investors. POSCO is currently in talks to be among those investors.
If the deal goes through, it would mark a rare partnership between POSCO and Hyundai Steel aimed at overcoming US trade barriers.
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