Hyundai Steel’s U.S. plant aims to cut carbon emissions by 70%, a global first

“When our steel mill begins making steel in the first quarter of 2029, it will be the first in the world to reduce carbon emissions by 70% compared with a blast furnace.” Kim Hyeong-jin, chief executive of the Hyundai Steel-Posco Louisiana joint venture, highlighted that target at a news briefing in Donaldsonville, Louisiana.

The facility, known as Hyundai-Posco Louisiana, or HPLS, is being built by Hyundai Motor Group companies including Hyundai Steel together with Posco Group. The project carries a price tag of $5.8 billion, or about 7.8 trillion won.

It will be South Korea’s steel industry’s first plant in the United States and also the first integrated electric-furnace steel mill in the country. Once operational, the site is expected to generate $4 billion in annual sales.

The forecast rests on its planned production of 2.7 million tonnes a year and its focus on low-carbon, high-value steel. Automotive sheet steel will account for two-thirds of total output. The article says the product should be relatively easy to sell because automakers around the world are seeking lower-carbon steel to meet carbon-neutrality policies.

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When our steel mill begins making steel in the first quarter of 2029, it will be the first in the world to reduce carbon emissions by 70% compared with a blast furnace.