Hyundai Steel to build plant in Louisiana with annual output of 2.7 million tonnes

SEOUL (Reuters) - South Korea’s Hyundai Steel (KS:004020) will invest $5.8 billion along with Hyundai Motor (OTC:HYMTF) Group to build a plant in Louisiana in the United States with an annual capacity of 2.7 million tonnes, the company said in a regulatory filing on Tuesday.

This is part of Hyundai Motor’s $21 billion investment in the United States, which was announced by the company on Monday with President Donald Trump at the White House.

Hyundai Motor shares rose as much as 7.5% to hit the highest level since late October 2024 on Tuesday, while affiliate Kia Corp gained 4.3% and Hyundai Steel jumped 5.4%.

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