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South Korea - Latest news GMK Center

Photo – POSCO is launching South Korea’s largest electric arc furnace
POSCO is launching South Korea’s largest electric arc furnace

The new furnace will have a production capacity of 2.5 million tonnes of steel per year

Photo – South Korea is asking the EU for fair terms under the new steel measures
South Korea is asking the EU for fair terms under the new steel measures

The country is seeking access to the European market on terms no less favourable than those enjoyed by its competitors

Photo – South Korea has announced a $54 billion support package for the steel industry
South Korea has announced a $54 billion support package for the steel industry

The industry is under pressure from the conflict in the Middle East and the tariff policies of other countries

Photo – South Korea has approved the site for POSCO’s hydrogen-based DRI plant
South Korea has approved the site for POSCO’s hydrogen-based DRI plant

The project in Pohang calls for the launch of a 300,000-ton-per-year HyREX pilot plant by 2028

Photo – POSCO and Hyundai Steel will raise prices for hot-rolled steel for April sales
POSCO and Hyundai Steel will raise prices for hot-rolled steel for April sales

The rise in prices for these products in the country is driven by a supply shortage and cost pressures

Photo – Posco to launch new electric arc furnace with capacity of 2.5 million tons per year in June
Posco to launch new electric arc furnace with capacity of 2.5 million tons per year in June

The company is expanding its scrap yard in Gwangyang and will initially rely mainly on its own raw materials

Photo – Hyundai Steel to reduce rebar production capacity in Incheon starting in March
Hyundai Steel to reduce rebar production capacity in Incheon starting in March

The company announced this decision at the beginning of the year

Photo – Hyundai Steel plans to increase capital of US steel mill by $2.9 billion
Hyundai Steel plans to increase capital of US steel mill by $2.9 billion

Total investment in the project will amount to $5.8 billion

Photo – Trump raises tariffs on imports from South Korea to 25%
Trump raises tariffs on imports from South Korea to 25%

The US president justified the decision by citing delays in the ratification of the trade agreement

Photo – Hyundai Steel closes half of its rebar production capacity in Incheon
Hyundai Steel closes half of its rebar production capacity in Incheon

Analysts suggest that the steel producer is preparing to restructure the country's steel sector

Photo – POSCO to acquire 20% stake in Hyundai Steel’s new steel mill in the US
POSCO to acquire 20% stake in Hyundai Steel’s new steel mill in the US

Partnership is a strategy to counter US trade barriers

Photo – Hyundai Steel invests $116 million to strengthen supply of high-quality scrap
Hyundai Steel invests $116 million to strengthen supply of high-quality scrap

The company is simultaneously developing technologies for converting conventional raw materials into high-quality

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