South Korean steelmaker POSCO plans to invest around USD 359 mln to build a new automotive steel plant at its integrated steelworks in Gwangyang, as it expands its high-end steel product business.
The facility is scheduled for completion in 2028 and will have annual production capacity of 450,000 tons of hot-dip galvanized steel for automotive outer panels.
The new facility will be POSCO’s eighth continuous galvanizing line (CGL) at Gwangyang, adding to seven existing lines with combined annual capacity of 4.5 mln tons. The new line will increase POSCO’s total hot-dip galvanized steel capacity to 4.95 mln tons per year.
POSCO said the investment aims to strengthen its competitiveness amid changes in the global steel industry, while improving manufacturing costs and technological capabilities.
POSCO is one of the world’s largest steel producers, with crude steel output of 33.2 mln tons in 2025. The company operates integrated steelworks in Pohang and Gwangyang and is investing heavily in low-carbon steelmaking technologies, including EAF and hydrogen-based iron production.