POSCO, Hyundai sign MOU for Louisiana steel project

Less than ten days after news broke in South Korea that the country's largest steelmaker, POSCO, was discussing taking equity in the US steel works project being actioned by its domestic rival Hyundai Steel, the plans have taken solid form and been significantly expanded.

On Monday in Seoul, Hyundai Motor Group and POSCO Group announced that they had signed a Memorandum of Understanding (MOU) for comprehensive business cooperation in the fields of steel and battery materials. "The two organizations will focus on cooperation across a wide range of areas, further enhancing the transition towards