New Blast Furnace 
Steel Mill in Dangjin
INI Steel decides to build 7-million ton steel plant by 2010

Hyundai INI Steel (Vice Chairman Kim Moo-il) has decided to build an integrated steel mill in the Dangjin region in South Chungcheong Province and submitted to the Dangjin county office a request for the official designation of the region as a local industrial estate. When approved the region would be a steel industry Mecca, with a significant contribution to national economic development, steel company officials said recently.
They said in line with the call for balanced development of the country, the company applied to the county office for the designation of the local industrial estate. When the county office approves the application, the company will build an integrated steel mill with the capacity to turn out 7 million tons of crude steel annually to cope with rising demand for steel in step with the growing economy.
The steel maker will build the steel mill on a 960,000 pyeong site in Kagok-ri of the Dangjin county located next to its B district as part of the Asan Harbor Development Plan designed to spur balanced development of the regions in the country.
The steel company decided to expand and renovate the steel industry in the economically depressed Chungcheong region for not only further development of national economy, but also for the progress of the regional economy, which will make the Dangjin county a Mecca for the steel industry and an advance area for the industrialization of the nations west coast.
INI Steel plans to work for speedy normalization of its Dangjin plant equipped with international competitiveness and is ready to further investment in facilities for the upper level of production process of hot and cold-rolled steel plates as it is about to finish its work on the low-level production facilities.
The new steel mill is counted on to substitute the imports of high-quality steel including hot-rolled steel plates and help steel consumers to upgrade their international competitiveness through stable supply of high-quality steel products to domestic consumers.
When the projected steel mill is completed, it will import substitute 3.2 million tons of hot-rolled steel plates out of 5 million tons required annually in the country with 1.8 million tons produced by the A hot-rolled steel production plant in the Dangjin steel plants. The new steel plant will also import substitute 3 million tons of slabs all valued at more than $4 billion.
The integrated steel plant is projected to create 3,800 jobs with direct and indirect businesses totaling 11 trillion won.
INI Steel plans to build the new steel mill from 2007 and complete it by 2010 under its long-term vision for the new steel plant.
All officers and staff of INI Steel have been focused on the early normalization of the Dangjin steel plant complex and the designation of Dangjin County as an industrial estate so that they would be able to finish the construction of the projected integrated steel mill under a long-term vision that it will become a global steel mill in the future.
INI Steel Co. was established in 1953 as the first wire products company in Korea.

Over the past 50 years, INI Steel, in an effort to become the best steel maker in the world, has raised its basic industry and created a new myth in the steel industry by dispersing its talented employees all over the world.
In the year 2000, INI Steel actively participated in the structural adjustment of Korea's steel industry and was reborn as a specialized steel maker through the merger with Kangwon Industry and through the undertaking of Sammi Special Steel.
In order to position themselves in the face of these new changes, they changed their name to INI Steel in August, 2001.
Rising to the top of the global steel industry, INI Steel not only manufactures H-beams, steel and other construction materials, but also steel railroads and special stainless steel products.
They have achieved a multifaceted business through strategic business plans and supplies the best in products and service through continuous technological development and economic reformation. nw


Hyundai INI Steel Vice Chairman Kim Moo-il.

An inside view of INI Steel plant in Incheon.