Hyundai Steel, a subsidiary of South Korea's Hyundai Motor Group, is actively exploring the possibility of constructing a steel plant in the southeastern United States. The proposed facility would utilize electric arc furnace technology and aims to supply flat steel products to Hyundai and Kia's automotive manufacturing operations in Alabama and Georgia. This consideration comes amid anticipated protectionist trade policies under the Biden administration, including potential tariffs on imports from Mexico, Canada, and the EU. The new plant could significantly reduce logistics costs and mitigate risks associated with U.S. trade policies, with construction expected to begin as early as 2026 and operations projected to start by 2029.
