Tag: South Korea: Hyundai steel unveils aggressive cost-cutting strategy

Move comes amid US tariffs, weak domestic demand Executives face 20% pay cut, effective immediately Hyundai Steel Co., South Korea’s second-largest steelmaker, has activated an emergency management mode in response to escalating challenges. The company is facing significant pressure from the US imposition of 25% tariffs on steel and aluminium, weakened domestic demand, and rising…