Hyundai to build new steel plant
Hyundai Motor Group announced plans to set up a steel plant in Dangjin, South Chungcheong province of South Korea. Hyundai Group's affiliate INI Steel asked the state government to allot a space in the Songsan Regional Industrial Complex. The planned steel plant, when completed, will be the second plant in Korea that will deal with the entire steel-making process. The plant is expected to cost around Won 6 trillion ($5.97 billion). The details of the plant will be announced soon.