Hyundai Steel
Overview
Hyundai Steel is a leading comprehensive steel company in South Korea and a core affiliate of Hyundai Motor Group. Since its establishment in 1953, it has led the domestic steel industry by producing various steel products such as rebar, sections, and automotive steel sheets. As of 2024, it boasts world-class scale with an annual crude steel production capacity of approximately 24 million tons.
Main Content
History
The predecessor of Hyundai Steel was Daehan Heavy Industry (Daehan Junggi Industrial), established in 1953. It was later acquired by the Hyundai Group in 1978 and launched as Hyundai Pipe & Steel, then changed its name to the current Hyundai Steel in 1986. In the 2000s, it joined Hyundai Motor Group and took a leap as a specialized automotive materials company. In 2010, it completed an integrated steel mill in Dangjin, South Chungcheong Province, transforming into a comprehensive steelmaker based on blast furnaces.
Major Business Areas
Hyundai Steel's business is broadly divided into long steel products, flat products, and special steel. Long steel products are centered on rebar and H-beams used at construction sites, while flat products focus on automotive body steel sheets and shipbuilding thick plates. In particular, automotive steel sheets are supplied not only to Hyundai Motor and Kia but also to global automakers, holding an overwhelming share of the domestic automotive materials market. The company is also expanding its lineup of high-value-added products such as electrical steel sheets and hot-rolled steel sheets.
Production Facilities
Hyundai Steel operates multiple production bases in South Korea, including Incheon, Pohang, Dangjin, Suncheon, and Ulsan. Among these, the Dangjin Steel Mill is an integrated steel mill equipped with ironmaking, steelmaking, and rolling processes, serving as a key hub producing approximately 12 million tons of crude steel annually. The Incheon Plant produces rebar and sections based on electric arc furnaces, while the Pohang and Suncheon plants handle special steel and stainless steel sheets, respectively. In 2024, the company broke ground on an eco-friendly electric arc furnace at the Dangjin Steel Mill to respond to the era of carbon neutrality.
Technology and Quality Competitiveness
Hyundai Steel developed hot-stamping steel sheets applying a non-oxidizing rapid heating technology, differentiated from the world's first automotive high-strength steel sheet, PBR (Posco Boron steel). It has also begun mass-producing non-oriented electrical steel sheets for next-generation electric vehicles, targeting the eco-friendly vehicle market. In recognition of its product quality and technological capabilities, the company recently achieved a large-scale supply contract with a European automaker.
Latest Trends
From 2024 to 2025, Hyundai Steel is undergoing major changes in two directions. The first is the low-carbon transition. With the goal of operation in 2025, the company is building a hydrogen reduction ironmaking demonstration facility at the Dangjin Steel Mill and gradually expanding the share of electric arc furnaces. Accordingly, existing blast furnace facilities are expected to be gradually reduced. The second is the expansion of the electric vehicle materials market. Due to the recent increase in Hyundai Motor Group's EV sales, demand for electrical steel sheets for drive motors and steel sheets for battery cases has surged, and Hyundai Steel is investing hundreds of billions of won in expanding related facilities. In addition, in response to changing global trade conditions, the company is pursuing a market diversification strategy, including reviewing overseas production bases in the United States, India, and other countries.
Related Topics
- [[Hyundai Motor]]
- [[Steel industry]]
- [[POSCO]]
- [[Electric arc furnace steelmaking]]
- [[Automotive steel sheets]]