The new Ascension Parish plant will create up to 1,500 full-time jobs and notch a major economic development opportunity for south Louisiana, according to sources familiar with the deal.

The Korean automaker said the investment would include $5.8 billion for a steel factory in Louisiana that would employ 1,300 people.

South Korea’s Hyundai Steel Co. has chosen Donaldsonville, Louisiana, as the location for its $5.8 billion US steel mill, marking a major strategic inves