Ahn Dong, CEO of South Korean Hyundai Steel Co., stated that they aim to become one of the three largest automotive steel producers in the world. Its subsidiaries are Hyundai Motor Co. and Kia Corp., and become one of the world's three largest automotive steel producers.
By the end of the year, they aim to supply approximately 1.2 million tons of steel sheets to foreign automakers other than Hyundai Motor and Kia, increasing their share in sales from 17% to 20%.
"We will increase our supply to global automakers, excluding the two sister companies, to 2 million tons in a short time," Dong-il said in an interview with its in-house publication.
"At the same time, we aim to become one of the three largest steel plate suppliers in the world, based on our technological power that reaches the highest level in the world," he said.
Hyundai Steel aims to increase the rate to 30 percent in the next two to three years, and ultimately to 40 percent. But no time frame has been specified for the plans yet.
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