Dongkuk Steel Reports 45.6 Billion Won in Q2 Operating Profit, Up 52.3% Year-on-Year

Revenue Rises 11.4% to 995.5 Billion Won
Dongkuk CM Returns to Profit with 21.1 Billion Won in Operating Income

Dongkuk Steel announced on July 24 that its operating profit for the second quarter reached 45.6 billion won, marking a 52.3% increase compared to the same period last year.

Dongkuk Steel Group Headquarters, Perrum Tower. Dongkuk Steel Group

Revenue was 995.5 billion won, up 11.4% from the previous year, while net profit rose 26.8% to 11.6 billion won.

On a cumulative basis for the first half of the year, revenue reached 1.8527 trillion won and operating profit totaled 67 billion won. Compared to the same period last year, revenue increased by 14.4% and operating profit surged by 96.1%.

Dongkuk Steel explained that, in addition to the seasonal peak in the second quarter, the improved profitability of its core long steel products was driven by growing demand for large-scale industrial infrastructure such as semiconductor and artificial intelligence (AI) data centers.

Increased sales volume resulting from a global export activation strategy also served as a positive factor. The heavy plate division saw some improvement in production and sales volumes, supported by robust demand from shipbuilding.

During the first half of this year, Dongkuk Steel continued to develop high value-added products, including the development of new export H-beam specifications and process improvements for special steel plates. The company also strengthened its marketing activities by expanding payment options through the introduction of Korea Credit Guarantee Fund's 'PayOne Guarantee' in its 'Steel Shop'.

Dongkuk CM achieved an operating profit of 21.1 billion won in the second quarter, returning to profitability. Net profit also turned positive to 14.6 billion won, while revenue grew 8.6% year-on-year to 545.1 billion won.

Dongkuk CM explained that the provisional anti-dumping duties imposed last April on Chinese galvanized and color-coated steel sheets led to a gradual decrease in the supply of low-priced generic materials, improving sales profitability in the domestic market. Additionally, the company said it was able to recover profits by maintaining a high proportion of exports of high value-added products such as Luxteel and Apsteel amid a high exchange rate environment, thereby increasing production and sales volume.

This content was produced with the assistance of AI translation services.