POSCO Group and Hyundai Motor Group are joining forces in the steel and secondary battery materials sectors to respond to the trade war initiated by the Trump administration.

On the 21st, Hyundai Motor Group and POSCO Group signed a Memorandum of Understanding (MOU) for mutual cooperation in the steel and secondary battery sectors at Hyundai Motor's Gangnam headquarters in Seoul. The event was attended by executives including Lee Ju-tae, President of POSCO Holdings' Future Strategy Division, and Han Seok-won, Vice President of Hyundai Motor Group's Planning and Coordination Division.

With this MOU, Hyundai Motor Group aims to strengthen its competitiveness in key global markets and future new businesses by securing a stable supply of key raw materials for mobility. POSCO Group, on the other hand, plans to expand its presence as a materials company supplying high-quality steel for mobility and secondary battery materials while establishing a new foothold in the North American steel market.

POSCO will jointly invest with Hyundai Steel, a Hyundai Motor Group affiliate, in an electric arc furnace steel plant in Louisiana, USA, with a total investment of $5.8 billion. The electric arc furnace system melts iron ore using high-temperature electricity, as opposed to traditional blast furnaces. Hyundai Steel plans to produce 2.7 million tons of hot-rolled and cold-rolled steel plates at this plant starting in 2029.

Through this collaboration, Hyundai Motor Group will ensure a stable supply of high-quality automotive steel plates to global major automakers, including Hyundai Motor Group MetaPlant America (HMGMA), Hyundai Motor's Alabama plant, and Kia's Georgia plant. At the same time, POSCO Group will secure a foothold in the North American steel market. POSCO currently operates a steel processing center in North America, including an automotive steel plant in Mexico.

Hyundai Motor Group and POSCO Group are also collaborating in the secondary battery materials sector.

POSCO Group has secured lithium raw materials through ownership and equity investments in overseas salt lakes and mines, and is producing lithium hydroxide and cathode and anode materials for electric vehicle batteries at both domestic and overseas plants.

Hyundai Motor Group plans to actively respond to the global electric vehicle market after the temporary demand stagnation (electric vehicle "chasm"). Additionally, the companies plan to identify areas where synergies can be created, including the development of next-generation materials, in the long term.

A Hyundai Motor Group official stated, "Through this MOU with POSCO Group, we will expand business opportunities in global markets such as the U.S. and strengthen the foundation for sustainable growth and leadership in electrification in the future mobility sector."

Lee Ju-tae, President of POSCO Holdings, said, "Amid global trade pressure and changes in the industrial paradigm, we believe we can find solutions for sustainable growth across the entire group business, including steel and secondary battery materials, based on the synergy between the two companies."

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