Historic Perspectives
Selected Steel Firm: Hyundai
Recent events:
2016: Restructuring plan centred on the sell-off by Hyundai Steel of an electric furnace in Incheon, used to produce some 200 kt / year of ingots for forging. Forged ingots are typically used in the shipbuilding and wind power generation industries. Aid for this restructuring was permitted under South Korea's so-called One-Shot Act, a recently-enacted law designed to facilitate and encourage voluntary corporate restructuring. ...
2018: South Korea's six largest steel firms including Hyundai Steel Co and Dongkuk Steel Mill Co Ltd were fined a total of 119 billion won for fixing the price of steel reinforcement ...
2020: Press reports in mid-2020 suggested that Hyundai Steel and other South Korean majors were considering closure of their steel factories in China and relocation to India.
The same sources also stated that the Indian government would be keen to have steel giants such as Posco or Hyundai Steel set up steel factories in Andhra ...
2020: License agreement will allow Hyundai Steel to expand its hot stamping business from the Korean to the global ...
2021: The anti-trust watchdog imposed a 90.9 billion won fine on Hyundai Steel, as well as fines of 49.9 billion won on Dongkuk Steel Mill, 49.6 billion won on Kisco, 42.9 billion won on YK Steel, 34.6 billion won on Daehan Steel, 31.3 billion won on Hankuk Steel and Mill and 638 million won on Korea Steel Shapes for collusion on scrap ...
2021: Hyundai Steel January green bond was more than eight times ...
2021: The Green Air Co Ltd manufactures and distributes industrial gases. The firm supplies liquid oxygen, nitrogen, argon, hydrogen, liquefied carbon dioxide, and other related products for sale throughout South Korea. Hyundai Steel Company had agreed to acquire a 51% stake in the Green Air Co Ltd from Hyundai Rotem Company for KRW 81.2 billion on April 24, 2020. However, Hyundai Steel cancelled this transaction in April ...
2023: The Beijing SSC, known as Hyundai Steel Beijing Process, was built in 2002 near car manufacturing facilities owned by Hyundai Motor and ...
2023: Hyundai Steel commenced stainless steel production at its Incheon plant in 1990. Annual stainless steel output at the works peaked at 200,000 ...
2023: Presently, Hyundai Steel operates a 1.1 mt/year steel pipe plant at the Port of Ulsan. With a new subsidiary, the parent company hopes to streamline the business portfolio. ...
2024: During 2024, Hyundai Steel signed a memorandum of understanding with Tawesco, a leading auto parts company in the Czech Republic; and with Eusider, an Italian company specializing in automotive steel plate ...
2024: Strong opposition from the labour union prompted the reconsideration of the Pohang plant closure ...
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