Hyundai Hysco breaks ground on steel plant

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Hyundai Hysco breaks ground on steel plant

Hyundai Hysco Co., a steelmaking affiliate of Hyundai Motor Group, said yesterday it had begun building its third cold-rolled steel-making plant in the country to meet growing demand.

The plant in Dangjin, 123 kilometers (76.4 miles) southwest of Seoul, will have an annual output of 1.5 million tons when construction is completed in May 2013, according to the steelmaker.

Hyundai Hysco currently has two cold-rolled steel-making plants in Korea, with a combined annual output of 3.8 million tons.

Hyundai Steel Co., another Hyundai Motor Group steelmaking affiliate, is also building a third blast furnace in Dangjin, which will boost its steel output by 4 million tons annually.

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