South Korea's steel industry is facing new challenges amid shifting international trade dynamics. POSCO and Hyundai Steel have come under the spotlight following news of potential major investments in the United States, a strategic response to the U.S's imposition of steel tariffs.

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.