On the 27th, HS Hyundai Steel & Engineering announced that it is planning large-scale investments in San Luis Potosí State, Mexico, to expand its global advanced materials business centered on North America.
On the 25th (local time), HS Hyundai Steel & Engineering signed an investment MOU with the government of San Luis Potosí State at a memorandum of understanding (MOU) signing ceremony held during the Korea-Mexico Business Forum at the World Trade Center in Mexico City, as part of the itinerary for the Korea-Mexico Economic Delegation's visit to Mexico. The agreement outlines plans to launch large-scale local production base investments starting in 2027. The MOU signing ceremony was attended by Marcelo Ebrard, President of Mexico, and Mario García Valdez, Governor of San Luis Potosí State.
Under the agreement, HS Hyundai Steel & Engineering plans to gradually expand its investments in San Luis Potosí State to establish advanced materials production hubs and strengthen its production and supply base targeting North American and global markets.
Both sides also confirmed their mutual commitment to cooperate on HS Hyundai Steel & Engineering's investment in Mexico and the expansion of local operations. HS Hyundai Steel & Engineering held a separate meeting with Marcelo Ebrard, President of Mexico, to discuss local investment plans and future business expansion strategies.
Sung Nak-yang, CEO of HS Hyundai Steel & Advanced Materials, stated, "This investment is a strategy aimed at developing Mexico not merely as a production base but as a key forward operating base connecting North America and global markets," adding, "We will contribute to the development of the local industrial ecosystem by strengthening the local supply chain and creating jobs."
in INDUSTRY
