Ascension Parish, Louisiana – September 09, 2026 -- Hyundai Steel Company held a ceremonial launch for a $5.8 billion Electric Arc Furnace-based integrated steel mill in Louisiana, marking the first facility of its kind in North America.
Joint venture targets 2029 commercial output at 2.7 million metric tons
The mill will be operated by HYUNDAI-POSCO Louisiana Steel LLC (HPLS), a joint venture between Hyundai Steel, POSCO, Hyundai Motor Company and Kia Corporation. Commercial production is targeted for 2029 with annual capacity of 2.7 million metric tons of hot-rolled and cold-rolled steel sheets aimed primarily at automotive applications.
Project creates 5,400 jobs including 1,300 direct positions
The investment is expected to generate 5,400 jobs in the region, of which 1,300 will be direct employment. The facility will use Direct Reduction Process technology to produce low-carbon emissions steel for global automakers including Hyundai Motor and Kia.
Louisiana mill anchors Hyundai's $26 billion U.S. investment push
The project forms a cornerstone of Hyundai Motor Group's $26 billion U.S. investment commitment through 2028, announced in 2025, spanning automotive production, steelmaking, and robotics. Hyundai Motor Group Executive Chair Euisun Chung said steel will power the next chapter of America's industrial resurgence as the company contributes to the 'Made in America' vision.
Since entering the U.S. market in 1986, Hyundai Motor Group has invested more than $20.5 billion in the country. The Louisiana facility establishes Hyundai Steel's first North American production base.