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POSCO is in talks to join Hyundai Steel’s $5.8 billion US steel plant venture.
The move aims to strengthen South Korea’s steel footprint in North America.
The collaboration could mitigate tariff risks and boost capacity.
South Korean steel major POSCO is reportedly considering partnering with Hyundai Steel on its ambitious $5.8 billion steel plant project in the United States, according to local media sources.
Hyundai Steel had earlier announced its plans to establish the plant to tap into growing demand in North America and counter rising trade restrictions. The move is aimed at expanding its footprint in the US, where the automotive and construction sectors continue to drive steel consumption.
POSCO’s potential collaboration could mark a strategic alliance between two of South Korea’s largest steelmakers. While no official confirmation has been made, sources indicate that POSCO sees this as an opportunity to enhance its presence in the US market, especially as geopolitical tensions and tariffs are reshaping global steel trade dynamics.
If finalized, this collaboration could also enable both companies to share infrastructure, optimize investment, and reduce operational risk. The proposed US plant is expected to produce automotive-grade steel, aligning with Hyundai’s expansion plans in electric vehicle production.
This development comes at a time when other global steelmakers, including JSW Steel and ArcelorMittal, are also ramping up investments in the United States amid rising domestic demand and protectionist trade policies.
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