In recent years, the steel industry has continued to attract the attention of major international corporations. South Korean company Posco Holdings Inc. has announced its intention to collaborate with Hyundai Motor Group in establishing a new steel mill in the United States. This development not only reflects a growing interest in manufacturing capabilities on the American continent but also highlights the influence of US tariff policies on the investment decisions of large corporations.

Hyundai Steel recently announced a joint project with Hyundai Motor Group to build a new steel mill in Louisiana, USA. The project is valued at USD 5.8 billion and is designed to produce 2.7 million tonnes of steel per year. This initiative is an integral part of Hyundai Motor Group’s larger plan to invest USD 21 billion in the United States, as revealed by the company’s chairman during a meeting at the White House.