By the sound of your issue, something tells me there is a problem with your serpentine belt, or one of the belt driven accessories. If the belt isn't turning (or one of the belt drive accessories isn't allowing the belt to turn) neither the power steering nor the alternator are working.
The crankshaft pulley is constructed in 2 pieces with rubber between. The inner part is keyed and bolted to the crankshaft while the outer part is the actual pulley that drives the belt. The rubber between the two is for dampening vibration. What has happened is the rubber has deteriorated to the point that the inner piece is turning with the crankshaft and the outer piece is slipping. Hyundai has updated this part, it's around $100 at the dealer. If you are handy, it is an easy fix, takes about 30 minutes. Remove the passenger side front wheel, the plastic inner cover (3screws), using an air or electric impact wrench, remove the crankshaft bolt, loosen the belt tensioner, slip the belt off the pulley and slide the pulley assembly off the shaft. Make sure the key is in place and install new pulley and other parts in reverse order. Good luck!
