DLA Piper advises POSCO on US$582 million Hyundai Steel joint venture

DLA Piper provided counsel to POSCO on its US$582 million joint venture investment, securing a 20 percent stake in Hyundai-POSCO Louisiana Steel LLC. This collaboration supports the development of a wholly owned subsidiary aimed at constructing a US$5.8 billion steel manufacturing plant in Louisiana.

The planned jointly-constructed electric arc furnace steel mill is a means to respond to changes in the North American steel market and secure a foundation for sustainable automotive steel production.

Eric Wang (Palo Alto/San Francisco) and DK Donghyun Kim (Atlanta) led the transaction with client relationship Partner Daniel Lee (Seoul). The cross-practice DLA Piper team included Partners Paolo Morante (New York) Brian Hamano (Los Angeles), Sang Kim (Palo Alto), Stephanie Yarbrough (New York/Washington, DC) and Georgia Jolink (Austin), Of Counsel Heather Srimal (Palo Alto), and Associates Robert Song (Seoul), Jenna Wojcicki (Atlanta), Dallin Johnson (San Diego), Karen Shriver (Atlanta), David Cadena (Los Angeles), and Bridget Jeong (Palo Alto), and Nathaniel Baird (Seattle).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 16 consecutive years by Mergermarket and ranked number one in VC, PE, and M&A in combined global deal volume by PitchBook.