According to local media reports, South Korean steelmaker Hyundai Steel has decided to create a steel pipe subsidiary in order to increase its competitiveness in the global market.
The subsidiary, which is expected to be established by the end of this year, will appeal to environmentally friendly energy projects.
Hyundai Steel’s current pipe unit has a capacity of 1.11 million mt per year. With the help of the newly founded subsidiary, the company aims to increase its capacity.
