[Korean Steel] AI Demand Defies a 50% Tariff: US Steel Exports Reignite

✅ [Korean Steel] AI Demand Defies a 50% Tariff: US Steel Exports Reignite 📋 Growth Research | Korean Steel Sector Report Part 1. Korean Steel Exports to the US Surge in 2026 Part 2. AI Data Centers: New Engine of US Steel Demand Part 3. Why a 50% Tariff Isn't Stopping Korean Steel Part 4. Investment Strategy: Data Center Upside, US-Export Plays at Core 📈 Hyundai Steel (004020.KS) | 📈 DONGKUK STEEL MILL (460860.KQ) 📌 Steel Exports to the U.S. Surge Despite 50% Tariffs South Korea's steel exports to the U.S. reached 399,852 tons in April 2026, the highest level since February 2015, up 67.3% over the past ten months. 📌 AI Data Centers Emerge as a New Driver of Steel Demand Growing infrastructure investment and the AI data center boom are supporting U.S. steel demand, particularly for high-value structural steel products. 📌 Korean Steel Remains Competitive Despite Tariffs and Reduced Chinese Competition U.S. steel supply remains constrained despite rising demand, allowing Korean steel products to maintain their competitiveness even under 50% tariffs At the same time, trade restrictions and security concerns surrounding Chinese steel are creating additional opportunities for Korean exporters. 📌 U.S. Export Exposure Is the Key Differentiator While AI data centers provide long-term upside, rising U.S. exports are the more immediate earnings driver. Expected beneficiaries rank as: long products → steel pipes → coated steel sheets. 📌 Key Beneficiaries Hyundai Steel: Korea's largest EAF steelmaker with exposure to both long and flat steel products. Dongkuk Steel: Leading Korean long steel producer, with roughly 70% of revenue derived from long products. ✅ Growth Research — Independent Equity Research https://t.me/growthresearch