Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
03.25.25
Pillsbury represented South Korea’s Hyundai Steel in connection with a groundbreaking $5.8 billion investment to develop a steel mill in Ascension Parish, Louisiana.
Construction of the electric arc furnace-based steel mill—South Korea’s first in the U.S.—is scheduled to begin in the fall of 2026. It is expected to create more than 1,300 jobs and produce 2.7 million metric tons of steel annually.
“Pillsbury is proud to have represented Hyundai Steel in arranging this landmark agreement with the State of Louisiana,” said Pillsbury partner Sungbum Lee, of the firm’s International Trade practice. “The $5.8 billion investment will establish the company’s first steel production facility in the U.S., providing materials necessary to support vehicle assembly plants in the U.S. and creating thousands of new Louisiana jobs in the process.”
Hyundai Steel's Louisiana mill will focus on the production of steel plates for the automotive industry. Commercial production of automotive steel plates is targeted for 2029.
The Pillsbury team that advised Hyundai Steel was led by Lee, along with International Trade partner Stephan Becker, Government Law & Strategies partner Aimee Ghosh, Real Estate partner Adam Weaver, Environmental & Natural Resources partner Reza Zarghamee, and Real Estate senior associate Matthew Olhausen.
More information can be found here.