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Hyundai Steel to establish steel pipe subsidiary

South Korea's second-largest steel producer Hyundai Steel is establishing a steel pipe subsidiary to increase its competitiveness and focus on environmentally friendly energy projects.

Hyundai Steel to establish steel pipe subsidiary

The board of directors approved the proposal and the new subsidiary is expected to be established by the end of 2023. Hyundai Steel currently operates a steel pipe plant in Ulsan Port with an annual production capacity of 1.11 million tons.

The company stated that it aims to develop its independent steel pipe division into a leading national and global company specializing in the production of pipes for environmentally friendly energy projects.

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