South Korean steel producer Hyundai Steel (004020.KS) said on Friday that it is considering a merger with its steelmaking affiliate Hyundai Hysco (010520.KS), but added nothing has been decided.

Shares of Hyundai Hysco surged over 6 percent on Friday, after media reports said it may be absorbed into Hyundai Steel, a sister company of automakers Hyundai Motor (005380.KS) and Kia Motors (000270.KS).

reuters.com