Chungcheongnam-do

In Oct. 2006, Hyundai Steel had a breaking-ground ceremony for the integrated steel mills at Dangjin. Starting as Korea's first steel company in 1953, Hyundai Steel has stood strong at the center of Korea's economy for the past half century. Hyundai Steel is now starting the next 50 years with a new Integrated Steel Mills in the Dangjin area to encourage the development of the steel industry itself, along with the Korea's economy.

Hyundai Steel will Makes Korea's Economy Upgrade
Hyundai Steel was founded in 1953 as the first domestic steel company in Korea. Over the last half century, Hyundai Steel has become a significant player in the Korean economy and has been a major contributor to the nation's growth. In 2000, our company took part in a massive restructuring of the steel industry, which saw a merger with Kangwon Industries and the acquisition of Sammi Steel Company. As a result, Hyundai Steel was made a comprehensive steel company. In 2004, the takeover of Hanbo Steel Company, Which have been stalled for seven years, was finalized. Hyundai Steel emerged from this restructuring stronger and better prepared to move forward. We now have a strategic distribution network connecting Incheon, Pohang and Dangjin, giving us a competitive comprehensive advantage in the imminent Free Trade Agreement between China, Japan and Korea.
This was made possible by our ability to revitalize Dangjin Works. In addition, Hyundai Steel is performing the development of a strategic industrial complex. This will increase our company's competitiveness in the international steel market by integrating innovation, scale and automation at our new eco-friendly steelworks.

A Change at Dangjin Where is Built the Integrated Steel Mills
Dangjin growing into metropolis of the steel industry. Hyundai Steel is investing 5 trillion Won in Dangjin area to develop an environmentally friendly integrated steelworks. For this project, Hyundai Steel will directly develop Donggok-Ri and Gagok-Ri of Songsan-Myun into the Songsan Region industry Complex. Such investment by Hyundai Steel will contribute significantly to overcoming the current reliance of steel on import markets and in the development of the national and rural regions.
Rich life in Dangjin with the construction of environmentally friendly integrated steelworks. The construction of integrated works will, along with economic growth of the Dangjin region, create direct and indirect employment. The influx of approximately 70,000 people-employees of Hyundai Steel and affiliates and employees of related industries - will serve as the decisive factor in promoting Dangjin to that of a city. Dangjin can shift from an agriculture-focused industry structure to a city in which urban and agricultural settings harmonize. In the future, the city may further concentrate on manufacturing and service industries for high added value, realizing practical urbanization. Increase of tax revenues will improve the self-dependence in financial aspect, thereby opening the way for Dangjin to develop itself into an advanced city with growth potential.

The Promise of Hyundai Steel for the Future
Practice of environmental management by Hyundai Steel, whose main consideration is the environment. Hyundai Steel is the first domestic steel company and has built up the trust of its customers and the community for over 50 years. Based on this trust, Hyundai Steel will construct clean steelworks with cutting-edge facilities and technology, thereby building the optimum pollutant management system. Furthermore, through the application of enhanced environmental technology and the investment on optimal equipment, we will invest in the sustainable development of environment. By complying with the internal environmental regulations, which are more strict at present than legal standards, and by building a fully-automated environmental system, we will practice advanced environmental management that will protect the natural environment of the Dangjin region for years to come.

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The Greatest Competitiveness in the World

Hyundai Steel has six of its products named as “World Class Brands,” introduced by the Korean government in 2001. Its six products on the list helped Hyundai Steel easily beat the other steel companies in the nation. A product should meet the following requirements to be named a “World Class Brand”: its market size should be 50 million dollars or more; its market share should be 10% or higher in the world; it should be one of the top five products in the world in terms of market share; and it should have exports of five million dollars or more annually.
The six proud “World Class Brands” of Hyundai Steel include H-steel, HSS roll, stern cast steel, track shoe assembly, inverted angle, and steel sheet pile. Its stern cast steel in particular, used to build a stern structure of a large ship, has a 40% market worldwide.
Hyundai Steel is planning to run a steel research center to increase its technological level by developing new technologies in early stages such as high-class steel sheets and to have the required R&D capacity. About 350 researchers with doctor’s degrees will work at the research center. As the group’s affiliates, Hyundai Motor Company and Kia Motors, will take direct part in the development process and have their needs reflected right away, the rates of development will gain from such momentum.