• $5.8 billion investment part of Hyundai Motor Group's $26 billion U.S. commitment, strengthening local supply chain and industrial resilience
• Commercial production to begin in 2029 with 2.7 million metric tons annual capacity, supporting 5,400 jobs including 1,300 direct employments
• First Electric Arc Furnace-based integrated steel mill in the U.S., leveraging advanced technologies including Direct Reduction Process
• Supplying high-quality, low-carbon emissions steel to global automakers including Hyundai Motor and Kia

SEOUL, South Korea and ASCENSION PARISH, La., Sept. 4, 2026 /PRNewswire/ -- Hyundai Steel Company held a ceremonial event today for a $5.8 billion Electric Arc Furnace-based integrated steel mill in Louisiana, the first of its kind in North America, marking a pivotal moment in strengthening U.S. manufacturing resurgence.

Under the slogan of "Building the Future of Steel, Together with Louisiana," the ceremonial event took place at the RiverPlex MegaPark in Ascension Parish, Louisiana. The new mill will be operated by HYUNDAI-POSCO Louisiana Steel LLC (HPLS), a joint venture between Hyundai Steel, POSCO, Hyundai Motor Company and Kia Corporation.

The $5.8 billion investment establishes the first North American steel production base for Hyundai Steel, Hyundai Motor Group's steelmaking arm. With commercial production targeted for 2029, the mill will have an annual capacity of 2.7 million metric tons of hot-rolled and cold-rolled steel sheets, primarily for automotive applications, and is expected to create 5,400 jobs, including 1,300 direct positions.

"As America strengthens its manufacturing leadership, steel will continue to power the next chapter of its industrial resurgence," said Hyundai Motor Group Executive Chair Euisun Chung. "We are proud to contribute to that vision and to the future of 'Made in America'. Together, we will turn our shared ambitions into greater productivity and prosperity."

Advancing Hyundai Motor Group's Commitment to U.S. Manufacturing

The Louisiana steel mill is a cornerstone of Hyundai Motor Group's $26 billion U.S. investment commitment through 2028, announced in 2025. This strategic initiative represents Hyundai Motor Group's significant expansion in the U.S. spanning automotive production, advanced steelmaking, robotics innovation, and other key sectors—establishing a fully integrated ecosystem expanding the U.S. manufacturing footprint and mobility value chain. Since entering the U.S. market in 1986, Hyundai Motor Group has invested more than $20.5 billion.

About Hyundai Steel

More information about Hyundai Steel, please see: https://hyundai-steel.com/en

About HYUNDAI-POSCO Louisiana Steel (HPLS)

More information about HPLS can be found at: https://www.linkedin.com/company/hyundai-posco-louisiana-steel/

About Hyundai Motor Group
More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Newsroom, Genesis Newsroom

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SOURCE Hyundai Steel Company