Hyundai Steel Industry Acquires Sinan County Factory Site for 110 Billion Won to Expand Offshore Wind Structure Production Capacity

Hyundai Steel Industry has decided to acquire a factory site and related facilities in Sinan County, Jeollanam-do, for 110 billion won. The acquisition includes 349,595.40 square meters of land, 31,618 square meters of buildings, and other facilities. The purchase aims to enhance offshore wind structure production capacity and secure a back-end base. The transaction, valued at 110 billion won, includes both the asset acquisition and subsequent facility investments. Capital will be sourced from internal funds of 400 billion won and external financing of 700 billion won. The deal, subject to court approval, involves a 10% upfront payment with the remaining 90% payable upon meeting contractual conditions.