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| 현대제철 당진제철소 (사진=현대제철) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Steel will resume operation of its Russian plant this month, which has been suspended due to the Russia-Ukraine war. It's been two years since the factory was closed. The market will be expanded at a time when demand for steel has decreased due to slowing business conditions.
According to the industry on the 7th, Hyundai Steel will soon operate an auto steel plate plant in St. Petersburg, Russia. The move came after AGR Motor Group, which acquired Hyundai Motor's Russian plant, resumed production of finished cars and asked Hyundai Steel to deliver them.
AGR is a subsidiary of Russian automaker Art Finance. The company also acquired Volkswagen Group's local auto plant, which withdrew from Russia in 2022. Hyundai Wia, a component subsidiary of Hyundai Motor Group, was also asked to deliver the engine from AGR.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
