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| 현대제철 당진제철소 (사진=현대제철) |
[Alpha Biz=(Chicago) Reporter Paul Lee] There is a possibility that Hyundai Steel could withdraw its Russian subsidiary following Beijing, China. This is because Hyundai Motor's plant in Russia has been shut down due to the prolonged war between Russia and Ukraine.
Amid speculation that Hyundai Motor is pushing to sell its Russian plant, Hyundai Steel will also be forced to clean up its Russian subsidiary if Hyundai Motor actually starts to sell.
According to related industries on the 21st, the operation of the Steel Service Center (SSC) operated by Hyundai Steel's Russian subsidiary (Hyundai Steel Rus LLC) has been suspended.
Hyundai Steel's overseas SSC sells automotive steel plates to overseas production plants such as Hyundai Motor and Kia. When Hyundai Motor builds overseas production plants, Hyundai Steel also builds SSC nearby. It is only built to supply steel plates to Hyundai and Kia.
The possibility of the withdrawal of Hyundai Steel's Russian subsidiary also came from the long suspension of Hyundai Motor's Russian plant.
As the shutdown continued for more than a year, foreign media are paying attention to the possibility of the sale.
"It does not make sense to push for the sale of the plant when it is still at war," a Hyundai Motor official said. "Nothing has been confirmed at all regarding the sale."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
