SEOUL, Dec. 16 (Korea Bizwire) — Hyundai Steel and POSCO are moving forward with plans to build a large-scale electric arc furnace (EAF) steel mill in Louisiana, targeting commercial operation in 2029, as South Korean steelmakers expand production in the United States to meet automakers’ growing local supply needs. The companies announced on Tuesday that [...]
SEOUL, Dec. 1 (Korea Bizwire) — Hyundai Steel Co., South Korea’s second-largest steelmaker, said Monday it will unveil a miniature model of its planned electric arc furnace (EAF) steel mill in the United States at a hydrogen exhibition this week. The model will be displayed at the Hyundai Motor Group booth during the World Hydrogen [...]
DANGJIN, Oct. 31 (Korea Bizwire) — A new safety initiative by Hyundai Steel Co. has sparked a labor dispute after the company deployed four-legged patrol robots at its Dangjin plant, with the metalworkers’ union accusing the firm of using the technology to monitor workers rather than protect them. The Korean Metal Workers’ Union, affiliated with [...]
SEOUL, Aug. 14 (Korea Bizwire) — Hyundai Steel has withdrawn a 4.61 billion won ($3.4 million) damages lawsuit against members of its irregular workers’ union, who staged a strike in 2021. The move comes as the ruling Democratic Party pushes to pass the so-called “Yellow Envelope Law” this month, aimed at limiting companies’ ability to seek [...]
SEOUL, June 11 (Korea Bizwire) — Hyundai Steel Co., South Korea’s second-largest steel manufacturer, has temporarily shut down its No. 2 plant in the southeastern city of Pohang due to a prolonged industry-wide slump, the company said Wednesday. The suspension took effect Saturday due to a lack of production volume amid severe industry-wide demand contraction. [...]
SEOUL, June 2 (Korea Bizwire) — Hyundai Steel Co., South Korea’s second-largest steelmaker, said Monday it is considering selling a division that produces caterpillar tracks at one of its domestic plants, amid a prolonged slump in the construction industry. The company is in talks with Daejoo.KC — whose business spans steel structures to auto components [...]
SEOUL, March 14 (Korea Bizwire) — Hyundai Steel Co. said Friday it has shifted to an emergency management mode in response to growing challenges, including the recent imposition of steel tariffs by the United States and an ongoing strife with unionized workers. The company announced that all executives have taken a 20 percent pay cut effective Thursday, [...]
SEJONG, Jan. 9 (Korea Bizwire) — Hyundai Steel, a key affiliate of Hyundai Motor Group, is reportedly exploring plans to build a large steel mill in the United States. The move comes as U.S. President-elect Donald Trump signals heightened protectionist trade policies, urging foreign companies to manufacture within the U.S. to access its market. Potential [...]
SEOUL, Jan. 8 (Korea Bizwire) – Hyundai Steel Co. is reviewing constructing an automotive steel mill in the United States to respond to the incoming Donald Trump administration’s protectionist policies, industry sources said Wednesday. The steel-making unit of South Korea’s auto giant Hyundai Motor Group has discussed the estimated 10 trillion won (US$6.9 billion) investment [...]
SEOUL, Nov. 22 (Korea Bizwire) — South Korean steelmakers on Friday called for establishing a joint consultative body with the government to devise strategies for expected policy changes by the Donald Trump administration, the industry ministry said. Officials from major steelmakers, including POSCO and Hyundai Steel, made the call during a meeting with Industry Minister [...]