Hyundai Steel makes plates for wind farms
The investment will be worth 48 trillion won ($43.3 billion), which takes up about a third of the total funding for the Green New Deal. President Moon Jae-in attended the signing ceremony in Sinan, highlighting the importance of the project for the Green New Deal and balanced regional development.
Several power companies and manufacturing firms will participate in the government-led project.
Targeting the growing offshore wind power market, Hyundai Steel is pushing forward to develop the materials and expand the supply of steel plate products specialized for wind power generation.
Hyundai Steel has provided more than 140 thousand tons of steel plates for offshore wind power generators in Europe, Taiwan, India and Turkey since 2017. Hyundai Steel is also playing an active role in major local projects in Jeju and South Jeolla.
Hyundai Steel’s main focus is on steel specialized for substructures which require a lot of specialized products. In keeping with the expanding offshore wind power market, Hyundai Steel is aggressively developing thick steel plate products and increasing prequalification certification.
Furthermore, Hyundai Steel has completed product development of 9-percent nickel thick steel plate for ship construction and signed a deal with Hyundai Heavy Industries for materials needed for fuel tanks for liquefied natural gas (LNG) propulsion ships.
Hyundai Steel plans to focus on developing products related to the future energy market, such as electric vehicles, LNG and wind power this year.
By Shin Ha-nee [firstname.lastname@example.org]