Hyundai Steel targets $4b annual sales from Louisiana plant

DONALDSONVILLE, Louisiana – Hyundai Steel anticipates its planned $5.8 billion electric arc furnace steel plant in Louisiana to generate about $4 billion in annual revenue once it reaches full production, while positioning the facility as a "game changer" in the low-carbon steel market. The South Korean steelmaker held a groundbreaking ceremony Friday for Hyundai-Posco Louisiana Steel in Donaldsonville, Louisiana. Set to start commercial production in 2029, the plant is to have capacity for prod

2026-09-07 15:12:23:00

Going local, cutting carbon: Inside Hyundai's US steel expansion

DONALDSONVILLE, Louisiana -- Hyundai Motor Group, which has spent two decades building cars in the US, is moving further upstream to make the steel that goes into them. Hyundai-Posco Louisiana Steel, the $5.8 billion electric-arc furnace steel mill planned in Louisiana, marks a new phase in the auto giant's US expansion. Set to begin commercial production in 2029, the project will supply Hyundai and Kia's manufacturing operations in Alabama and Georgia, helping the group build a more integrated

2026-09-06 13:50:59:00

From White House pledge to Louisiana, Hyundai's $5.8b bet takes shape

DONALDSONVILLE, Louisiana — Hyundai Motor Group Executive Chair Chung Euisun stood beside US President Donald Trump at the White House 17 months ago to unveil one of the Korean auto giant’s biggest bets on American manufacturing. At the heart of the $21 billion US investment package unveiled in March 2025 — later increased to $26 billion — was a $5.8 billion steel mill in Louisiana, the group's first steel production base in the US and a move to make one of the most essential materials for vehic

2026-09-06 10:24:36:00

Hyundai chief eyes wider uses for Louisiana steel, from Atlas to SpaceX

DONALDSONVILLE, Louisiana — Hyundai Motor Group Executive Chair Chung Euisun said steel produced at Hyundai Steel's planned Louisiana mill could eventually be used for far more than cars, potentially finding its way into Atlas humanoid robots and even Space X rockets. “I think it should certainly be used,” Chung told reporters Friday after the ceremonial groundbreaking event for Hyundai-Posco Louisiana Steel, when asked whether the steel could be used for Atlas, the humanoid robot developed by H

2026-09-05 13:53:23:00

Hyundai Steel kicks off $5.8b Louisiana steel mill

DONALDSONVILLE, Louisiana -- Hyundai Steel broke ground Friday on a $5.8 billion steel mill in Louisiana, marking a major step in the South Korean steelmaker’s effort to establish a manufacturing base in the US and grow its supply of automotive steel to global carmakers. Hyundai-Posco Louisiana Steel, an electric-arc furnace joint venture backed by steelmakers Hyundai Steel and Posco as well as Hyundai Motor and Kia, will have an annual production capacity of 2.7 million metric tons of steel she

2026-09-05 10:11:55:00

Anemoi courts Korean shipbuilders for wind propulsion

British wind-propulsion company Anemoi Marine Technologies seeks closer ties with South Korean shipbuilders and shipping companies as the industry faces growing pressure to reduce fuel consumption and emissions. “South Korea combines world-class shipbuilding, sophisticated shipowners and strong marine engineering capabilities,” Anemoi co-founder and Chief Commercial Officer Nick Contopoulos told The Korea Herald in Seoul last week. Anemoi develops Rotor Sails, tall spinning cylinders installed o

2026-09-03 02:02:18:00

Hyundai Motor union approves wage deal, ending months of labor strife

Hyundai Motor’s labor union has approved a tentative agreement that includes higher base pay, bonuses and new hiring commitments, concluding months of contentious wage negotiations and strikes. The carmaker said 19,183 workers, or 61.55 percent of the 31,166 union members who cast ballots in a vote held Monday, voted in favor of this year’s wage agreement between the labor union and the company. Under the agreement reached last week, Hyundai Motor will raise monthly base pay by 100,000 won ($73)

2026-09-01 14:19:42:00

[Photo News] Hyundai Rotem's armored lifeline

Hyundai Rotem has developed a new armored medical evacuation vehicle designed to safely transport wounded soldiers from battlefields to medical facilities. The company said Tuesday it completed the two-year development project, led by the Defense Acquisition Program Administration, carrying out the entire process of design and prototype production to testing and evaluation with domestic technology. The vehicle can carry up to six ambulatory patients or four patients on stretchers, along with two

2026-09-01 14:07:58:00

Korean automakers shift gears to H2 sales growth as wage talks wrap up

South Korea’s five major automakers are on track to finalize their annual wage talks as soon as Monday, freeing them up to concentrate on expanding sales in the second half amid mounting pressure from US tariffs, intensifying competition with Chinese rivals and slowing global demand. Hyundai Motor Co., the last of the five automakers to complete negotiations, is holding a union vote Monday on a tentative agreement reached last week. If approved, it would effectively bring this year’s wage and co

2026-08-31 15:31:22:00

Korea’s decades-old shipbuilding rivalry crosses the Pacific

The decades-old rivalry between HD Hyundai and Hanwha Ocean is moving across the Pacific, as the two shipbuilding giants race for a much bigger prize: entry into the US naval shipbuilding market. Hanwha has seized an early lead. After acquiring Philadelphia-based Philly Shipyard, it is now pursuing Austal USA, a major supplier of vessels to the US Navy and Coast Guard. HD Hyundai has taken a more cautious route, favoring partnerships with American shipbuilders over outright acquisitions, but tha

2026-08-30 11:51:02:00