SEOUL (March 25): South Korea's Hyundai Steel will invest US$5.8 billion (RM25.74 billion), along with Hyundai Motor Group, to build a plant in Louisiana in the United States, with an annual capacity of 2.7 million tonnes, the company said in a regulatory filing on Tuesday.

This is part of Hyundai Motor's US$21 billion investment in the United States, which was announced by the company on Monday with US President Donald Trump at the White House.

Hyundai Motor shares rose as much as 7.5% to hit the highest level since late October 2024 on Tuesday, while affiliate Kia Corp gained 4.3%, and Hyundai Steel jumped 5.4%.

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