Hyundai Steel and POSCO attended the “HPLS High‑Grade Steel Production Plant” conference held in Dalton, Louisiana, and pledged to deepen bilateral trust. The director of Hyundai’s Industry and Trade Department stated that since the United States began producing electric‑grade steel 60 years ago, this project represents an opportunity for both countries to move beyond simple cooperation and expand their presence in the global market as partners, thereby elevating the technological competitiveness of both nations.
The director highlighted that the HPLS plant is equipped with a single‑process system that can produce steel from raw material all the way to finished product, enabling lower carbon emissions and production of high‑value strategic products. With an investment of about $5.8 billion (roughly ₩8 trillion), Hyundai Steel will hold 50% ownership, Hyundai Motor & Kia each 15%, while POSCO will hold 20%. The companies announced their active entry into the U.S. electric‑grade steel market.
Although the United States produced 82 million tons of steel last year, it still imports more than 200 million tons—its largest importer in the world. This project is expected to help the U.S. expand its electric‑grade steel sector and tightly link domestic industry, firms, and supply chains.
The director requested that necessary materials be delivered on time, with minimal regulatory and policy burdens, and that the required materials are smoothly sourced; he also urged support for this purpose. The Korean government likewise pledged active participation in the project, as both countries seek to build a mutually beneficial relationship in electric‑grade steel production.