Hyundai Steel launches earthquake-resistant steel brand
SEOUL-- Hyundai Steel Co., South Korea's second-biggest steelmaker by sales, on Wednesday launched its brand of earthquake-resistant steel products as part of its effort to seek a new growth driver.
The company has been investing in the development of earthquake-resistant products since 2005 by strengthening its lineup with specially made section steel, steel pipes, reinforced bars and thick steel plates.
Amid growing concerns about an earthquake in South Korea, the demand for earthquake-resistant steel is on the rise, Hyundai Steel said in a statement. Moreover, the government is moving to adopt stricter regulations on steel products in the construction sector to minimize the impact from a possible earthquake, it said.
Against this backdrop, the company has launched the "H((CORE" brand to pre-emptively respond to a growing demand for high-end steel products, it said.
The sale of earthquake-resistant steel products reached 1 million tons in 2015, jumping from 400 tons in 2006. This year, the company expects to sell 1.1 million tons of quake-resistant steel.
Source: Yonhap News Agency