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Report: Korea's POSCO, Hyundai Steel seek exemption from US import quotas

Korean steelmakers POSCO and Hyundai Steel Co. sought exemptions for their U.S. operations from steel import quotas, Yonhap News Agency reported.

POSCO-AAPC, an automotive steel cutting plant in Alabama, recently petitioned the U.S. Commerce Department for an exception from the quota limit for electrical steel products it imports from POSCO's plants in South Korea. Hyundai Steel recently made a similar request for automotive steel imports from Korea that feed a company plant in Alabama and a Kia Motors plant in Georgia.

U.S. President Donald Trump recently signed off on allowing relief from steel and aluminum quotas to a number of countries including South Korea. "Companies can apply for product exclusions based on insufficient quantity or quality available from U.S. steel or aluminum producers," the Commerce Department said earlier.