Louisiana will add 5,400 jobs after a $5.8 billion investment in a new steel manufacturing facility. The plant starts production in 2029 following the completion of the construction phase, marks a large industrial project in the region, and focuses on high volume output.

Hyundai-Posco Louisiana Steel LLC will manage the plant as a joint venture between Hyundai Steel, Posco, Hyundai Motor Company and Kia Corporation. The partnership combines resources from both steel producers and vehicle manufacturers to oversee the mill's operations and supply chain.