Dongkuk Steel Mill announced on the 22nd that it has decided not to pursue the acquisition of Hyundai IFC, a subsidiary of Hyundai Steel, which was aimed at strengthening business competitiveness and discovering new growth engines.
Dongkuk Steel Mill has been reviewing the acquisition of Hyundai IFC from a comprehensive perspective in conjunction with financial investors since the acquisition review was first revealed in April. Hyundai IFC is a subsidiary that was partitioned from the forging business sector of Hyundai Steel in 2020, with Hyundai Steel holding 100% equity.
A Hyundai Steel official noted regarding the sale of Hyundai IFC, "We are still considering various measures for business efficiency, but no decision has been made."
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