South Korea's Hyundai, Posco agree to cooperate on US steel plant
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 21 2025
0mins
Source: Reuters
Hyundai and Posco Collaboration: Hyundai Motor Group has signed a memorandum of understanding with Posco Holdings for a steel plant project in Louisiana, with production expected to start in 2029. Posco will invest in the project and may sell some of the produced steel.
Investment Plans Amid Tariffs: Hyundai announced a $21 billion investment in the U.S., including a $5.8 billion contribution from Hyundai Steel for the Louisiana plant, despite recent tariffs imposed by President Trump on South Korean imports.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
