Major steel companies in South Korea experienced a general decline in operating revenue last year

Galonghui, February 22 — Data released by the Korea Financial Supervisory Service shows that POSCO achieved sales of 35.011 trillion KRW last year, a decrease of 6.8% year-over-year; Hyundai Steel’s sales were 22.7332 trillion KRW, down 2.1% year-over-year. Although both companies experienced a contraction in revenue scale, they achieved year-over-year growth in operating profit through strengthened internal management. POSCO’s operating profit last year reached 1.78 trillion KRW, up 20.8% year-over-year; net profit was 1.143 trillion KRW, up 26.7%. Hyundai Steel’s operating profit last year increased by 37.4% year-over-year to 219.2 billion KRW. Dongkuk Steel and Suyah Steel faced greater operational pressure, with both revenue and operating profit declining. Dongkuk Steel’s revenue last year was 3.2034 trillion KRW, down 9.2% year-over-year; operating profit was only 59.4 billion KRW, a sharp decrease of 42.1%. Suyah Steel’s revenue last year was 1.4848 trillion KRW, a 17.9% decrease year-over-year; operating profit was 49.6 billion KRW, a significant drop of 75.6%.