Overview

• Hyundai Steel is progressing with its $5.8 billion investment in an electric arc furnace-based integrated steel mill in Louisiana, set to begin operations by 2029.
• POSCO is considering a stake in Hyundai Steel's project as part of its broader strategy to address U.S. steel tariffs and expand upstream steel operations in North America.
• The U.S. imposed a 25% tariff on steel and aluminum imports in March 2025, prompting South Korean steelmakers to recalibrate their investment strategies.
• Hyundai Steel plans to finance half of its investment through corporate bonds and loans from financial institutions.
• POSCO has yet to finalize its decision but is evaluating various investment options to enhance its presence in the U.S. steel industry.