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POSCO has agreed to acquire a 20 per cent stake in Hyundai Steel’s planned new steel mill in the United States, strengthening cooperation between two of South Korea’s largest steelmakers in a key export market. The project is aimed at supplying high-quality steel, particularly for the automotive sector, and supporting Korean and global OEMs as they expand manufacturing capacity in North America.
The investment marks a strategic move by POSCO to deepen its overseas footprint while sharing project risk and technology with Hyundai Steel. For Hyundai Steel, bringing POSCO in as an equity partner is expected to enhance the mill’s raw material sourcing, product development and marketing capabilities, as well as improve its competitiveness in advanced, value-added steel grades.
Both companies have highlighted the growing importance of the US market amid tightening trade policies, near-shoring trends and rising demand for steels suited to electric vehicles and low-carbon mobility. The new mill is expected to focus on high-grade flat products and to incorporate more energy-efficient, environmentally conscious processes compared with traditional steelmaking routes.
Further details on project schedule, product mix and total investment outlay are expected to be clarified as the partners move towards final approvals and detailed engineering.
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