Posted on 20 Apr 2015
Hyundai Hysco Co., a steelmaking affiliate of
Hyundai Motor Group, said Monday that it will invest 98.8 billion won ($91.3
million) to build a plant that will produce high-strength auto steel sheets.
The plant to be located in Yesan, 134 kilometers south of Seoul, will produce
steel sheets by using hot-stamping, a technique that applies special pressing
and cooling simultaneously, thereby making them stronger than other
conventional products.
The technique helps reduce the amount of materials needed to make high-strength
steel sheets for vehicles, which eventually helps cut costs and lightens the
overall weight of car bodies.
Hyundai Hysco already runs such factories in Ulsan and Dangjin in South Korea
and Tianjin, China. It is also building another one in Yesan, near where the
new factory will be located.
When the two factories are completed, Hyundai Hysco said that it will be able
to produce a total of 35.8 million sheets of hot-stamping steel per year, up
from the current 21.4 million.
Hyundai Hysco supplies specialized steel products for the country's top two
automakers -- Hyundai Motor Co. and Kia Motors Corp.
