South Korea's Hyundai Steel says plans $2.9 bln capital increase for US steel plant
26/01/2026 09:46
SEOUL, Jan 26 (Reuters) - South Korea's Hyundai Steel 004020.KS said in a regulatory filing on Monday its affiliate Hyundai-POSCO Louisiana LLC plans a capital increase worth $2.9 billion for facilities investment in a US steel plant. The move follows Hyundai Steel's announcement last year it and its parent Hyundai Motor 005380.KS Group would invest to build a steel plant in Louisiana, United States with an annual capacity of 2.7 million tonnes. Hyundai Motor Group had also signed a memorandum of understanding with South Korean steelmaker Posco Holdings 005490.KS for cooperation on its planned US steel plant. (Reporting by Joyce Lee and Cynthia Kim, Editing by Louise Heavens) ((joyce.lee@tr.com;))
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South Korea's Hyundai Steel plans $2.9 billion capital increase for US steel plant (updated)