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Stock impact report

Hyundai Steel's $6 billion US investment draws investor ire, tests Seoul's tariff strategy [Yahoo! Finance]

POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX) 
Company Research Source: Yahoo! Finance
steelmaker announced a $6 billion investment in the U.S., the company organised a call with a dozen investors to calm nerves over the project that lacked detailed funding plans. "We apologise that the plan was announced when some of the details are still under review," a Hyundai Steel official told them about the deal, part of a $21 billion U.S. investment package its parent Hyundai Motor Group unveiled at the White House on March 24. "But we had to move quickly in light of fast developing U.S. tariff situations and the limited capacity of our government to actively respond," he said, according to a transcript of the call seen by Reuters and confirmed by a person with direct knowledge of the closed-door meeting. The remark referred to the political vacuum stemming from former President Yoon Suk Yeol's impeachment. Four Hyundai executives and government officials told Reuters that they hoped the investment would pave the way for Hyundai and South Korea to push for more favourable Show less Read more
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