June 30, 2024

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Representatives from Hyundai Steel and Hanmi Global pose for a photo at a signing ceremony at Hyundai Steel's office in Gyeonggi Province on Dec. 19, 2023. (Hyundai Steel)

South Korean steel firm Hyundai Steel said Thursday that the company is increasing research and development efforts to improve its steel products and solutions, as well as to provide cost-effective steel products to local construction firms facing difficulties in the sluggish construction market.

In March, the steel company signed a memorandum of understanding with Hyundai Engineering, chemicals company KCC and the Korean Society of Steel Construction to develop a new steel structure, dubbed HC-Column, which has high durability and resistance against earthquakes and fire.

Hyundai Steel said its new steel structure will allow construction firms to save time and resources spent on building fire- and earthquake-resistant foundations in their construction projects.

In April, Hyundai Steel also partnered with a local engineering company to develop a construction method using its concrete-filled H-shaped steel column. The construction method is expected to help builders save on materials used to support the columns and on construction costs, according to Hyundai Steel.

In the same month, Hyundai Steel successfully applied H-shaped steel columns in a test construction. The company plans to use them in actual construction projects, starting in the second half of this year.

To develop high-end steel structures that can be used in residential apartments, Hyundai Steel also partnered with South Korean construction management firm Hanmi Global in December last year.

“Compared to apartment buildings that use reinforced concrete, buildings with steel structures allow architects to create more space within apartment units,” an official from Hyundai Steel said. The buildings with steel structures also have longer life spans, allowing constructors to save costs spent on reconstruction and remodeling, the official added.

Hanmi Global’s experience in managing over 2,900 construction projects both here and abroad will help Hyundai Steel to increase the application of steel structures in residential apartment construction projects here, Hyundai Steel added.

The steel company added it would soon launch a committee to accelerate the development of apartment steel structures.

By Shim Woo-hyun (ws@heraldcorp.com)