South Korea's Hyundai to build steel works in southern US

South Korean business conglomerate Hyundai Motor Group is to invest $21 billion in the United States that will include $6.1 billion for a steel works to provide automotive sheet and other steel items mainly for Hyundai Motor automotive plants in the US, the Seoul-headquartered company has announced.

In January, news broke that Hyundai Steel, South Korea's second-largest steelmaker after POSCO, was considering building a green-field steel mill in the US as insurance against the incoming Trump administration reintroducing import tariffs on automotive sheets for the US car plants operated by its parent, Hyundai Motor, as Mysteel