(Seoul = Newsis) ‘Metaplant America (HMGMA)’, an eco-friendly car factory built by Hyundai Motor Group in Georgia, USA in October last year. (Photo = Hyundai Motor Group America Corporation) 2025.1.7 (email protected) *Resale and DB prohibited
(Seoul = Newsis) Reporter Lee Da-som = Hyundai Steel is considering building a steel mill in the United States that can produce steel sheets for automobiles. It is analyzed that the plan is to supply Hyundai Motor Group’s local factories in the United States through local production to overcome trade barriers such as the imposition of steel tariffs by the second Trump administration.
According to the steel industry on the 7th, Hyundai Steel is reviewing investment conditions with multiple state governments, including Louisiana, Texas, and Georgia, with the goal of investing trillions of won to build a steel mill in the United States.
The goal is to confirm the site and begin construction early next year and complete the steel mill by 2029.
It is predicted that the method of producing molten iron will be using an electric furnace. The annual production volume has not yet been confirmed, but considering the investment amount, it is estimated to be at least several million tons.
Automotive steel plates produced here will be supplied to Hyundai Motor Company and Kia factories in nearby Georgia. Hyundai Motor Group operates the Kia Motors plant in Georgia and the Hyundai Motors plant in Alabama nearby, and is constructing Metaplant America (HMGMA), a factory dedicated to eco-friendly electric vehicles, in Savannah, Georgia.
However, a Hyundai Steel official said, “We are reviewing various regions to respond to global protectionism and plan to conduct a detailed review,” and added, “The amount, timing, and production method have not yet been decided.”
Hyundai Steel’s current investment review in the U.S. is to resolve uncertainty about tariff policy ahead of the inauguration of the second Trump administration.
During the first administration in 2018, the U.S. government introduced an import quota system of 2.68 million tons per year instead of imposing tariffs on Korean steel products. Steel exported from Korea to the United States is subject to this quota system and tariff-free is applied only up to 2.68 million tons.
Hyundai Steel CEO Seo Kang-hyeon said at the regular general shareholders’ meeting in April last year, “We are also reviewing local production bases to respond to global protectionism, and we plan to conduct a detailed review of which regions we can invest in to overcome trade barriers.” There is a bar.
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Source: www.newsis.com
