 |
Photo = Yonhap news |
[Alpha Biz= Kim Jisun] SEOUL, South Korea – June 12, 2025 — Hyundai Steel Co. is set to begin supplying automotive steel sheets to GM Korea as early as September, marking a significant expansion beyond its traditional customer base within the Hyundai Motor Group.
According to industry sources, GM Korea has chosen Hyundai Steel as a new supplier for its vehicle production operations, shifting away from China’s Baoshan Iron & Steel, the world’s largest steelmaker by crude steel output. The move comes amid growing global efforts to diversify supply chains and reduce dependency on China.
Based on GM Korea’s annual production scale, Hyundai Steel is expected to supply approximately 100,000 tons of steel per year, or about 20% of the automaker’s annual steel consumption.
This contract makes GM Korea Hyundai Steel’s largest single-plant client outside of the Hyundai Group, and is part of the steelmaker’s broader strategy to increase the share of global automakers in its sales portfolio to 20% (approximately 2 million tons) — up from the current 10%.
Hyundai Steel began supplying automotive-grade steel to global carmakers in 2017 as part of a long-term strategy to reduce reliance on its affiliated automakers, Hyundai Motor and Kia, and to establish itself as a competitive supplier in the global automotive materials market.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
