POSCO began construction of a new plant for automotive steel plates in Tangshan, Hebei province, China, on January 7th, 2022.
As a joint business with HBIS Group (formerly known as Hesteel Group), POSCO founded Hagang Pohang in September 2021 with shares split equally between the two in order to manufacture and sell auto steel plates in China. A ground-breaking ceremony for the plant capable of 900K tons production annually was held online with the anticipated completion date by the end of 2023.
Link to the press release