Hyundai Steel

Last updated
Hyundai Steel Co., Ltd.
현대제철
Company type Public
KRX: 004020
Industry Automotive
Steel
Founded1953;71 years ago (1953)
Headquarters
Incheon and Seoul
,
South Korea
Area served
Worldwide
Key people
An Tong-il (President & CEO)
ProductsSteel
RevenueIncrease2.svg US$ 14.4 Billion (2016) [1]
Won 1,304,161 million (2011) [1]
Increase2.svg US$ 706 Million (2016)
Parent Hyundai Motor Group
Website www.hyundai-steel.com

Hyundai Steel Co., Ltd, or HSC (formerly known as HYU, and Crab Iron & Steel Co., Ltd.) is a steel making company headquartered in Incheon and Seoul, South Korea, and a member of the Hyundai Motor Group. It manufactures a wide variety of products ranging from H-beams, rail and reinforcing bars, to hot coil, cold-rolled steel, and stainless cold-rolled sheet.[ citation needed ]

Contents

Established in 1953, Hyundai Steel is the oldest steel-making company in South Korea [2] and the second largest blast furnace steelmaker at the Dangjin steel complex with a 5,450m2 blast furnace, among the first in South Korea. [3] [4]

Hyundai Steel is the world's second-largest EAF steel producer after Nucor, U.S.A. [5] and operates six factories in Incheon, plus sites in Dangjin (3 blast furnaces, Hot coil, CR & plate mill), Pohang (EAF), and Suncheon (CR mill). [6]

In 2004, Hyundai Steel purchased the facilities of the defunct Hanbo Steel  [ ko ], restoring its long product and cold-rolling facilities. A third blast furnace was added in 2013, amid fears of oversupply in the market, taking the site's annual production capacity to 12 million tons. [7] The total annual capacity of the company (including two EAF plants in Incheon, the Pohang ex-Gangwon industrial plant, Incheon long products, Suncheon cold rolling mill and ex-Hyundai pipe plant at Ulsan) totals 24 million tons per annum.

In 2015, Hyundai Steel acquired its sister company Hyundai Hysco, increasing annual production capability to 30 million tons. The merged company has eleven coil centres in eight countries. [8]

In addition to Hyundai Steel, the Hyundai-Kia Motor group includes steel companies such as Hyundai Special Steel and BNG Steel Co., Ltd. (formerly Sammi Steel Co., Ltd. Stainless CR). Hyundai Steel uses the EAF in Incheon & Pohang mill (ex-Gangwon) and Dangjin complex with an in-house iron ore port to manufacture crude steel. BNG is a stainless steel cold rolling mill.

Major competitors

Hyundai Steel's major competitors include:

Carbon footprint

Hyundai Steel reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2019 at 22,245 Kt (-53 /-0.2% y-o-y). [9] There is little evidence of a consistent declining trend as yet.

Hyundai Steel's annual Total CO2e emissions (Direct + Indirect) (in kilotonnes)
Dec 2016Dec 2017Dec 2018Dec 2019
21,275 [10] 21,479 [11] 22,298 [12] 22,245 [9]

See also

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References

  1. 1 2 "Financials". Hyundai Steel. Archived from the original on 15 April 2014. Retrieved 10 March 2013.
  2. ↑ "History Hyundai Steel South Korea Seoul historic profile".
  3. ↑ "Hyundai Steel debuts 'H-Solution', largest in the world in Incheon to introduce future-oriented vehicle materials". 코리아포스트(영문) (in Korean). 2019-07-12. Retrieved 2020-01-28.
  4. ↑ History of Hyundai Steel] from 1953.
  5. ↑ overview/businessoverview.hds "About Our Businesses l About Us l HYUNDAI STEEL". www.hyundai-steel.com (in Korean). Retrieved 2020-11-02.{{cite web}}: Check |url= value (help)
  6. ↑ "국내 사업장 소개| 기업소개 | 현대제철". www.hyundai-steel.com (in Korean). Retrieved 2024-05-07.
  7. ↑ Jin, Hyunjoo (13 September 2013). "Hyundai Steel fires up 3rd blast furnace amid fears of over-supply". Reuters. Retrieved 9 December 2020.[ dead link ]
  8. ↑ "Hyundai Steel merges with Hysco". The Korea Times . 1 July 2015. Retrieved 9 December 2020.
  9. 1 2 "HYUNDAI Steel Company's Sustainability Report for 2020Q4". Archived from the original on May 12, 2021. Alt URL
  10. ↑ "Hyundai Steel's Sustainability Report for 2019Q4" (PDF). Archived from the original (PDF) on March 18, 2021. Alt URL
  11. ↑ "HYUNDAI Steel Company's Sustainability Report for 2020Q4". Archived from the original on May 12, 2021. Alt URL
  12. ↑ "HYUNDAI Steel Company's Sustainability Report for 2020Q4". Archived from the original on May 12, 2021. Alt URL
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