Dongkuk Steel Mill announced on the 24th that its separate operating profit for the last year provisionally totaled 102.5 billion won, a decrease of 56.5% compared to the previous year.
During the same period, sales increased by 34% to 3.5275 trillion won, while net income for the period decreased by 75.5% to 34.8 billion won.
Dongkuk Steel Mill reported a separate operating loss of 12 billion won in the fourth quarter of last year, marking a turnaround to a deficit compared to the same period of the previous year.
Sales during the same period decreased by 26.8% to 82.15 billion won, and the quarterly net loss also turned to a deficit, recording a loss of 27 billion won.
Dongkuk Steel Mill was established as a new company following the spin-off from DongKuk Holdings on June 1, 2023, and its 2023 performance only includes results from June to December.
In relation to its poor performance, Dongkuk Steel Mill noted that it was due to "the impact of demand weakness from the prolonged construction industry recession."