Dongkuk Steel profit plunges as weak demand and costs hit South Korea

Dongkuk Steel Mill said on the 26th that last year's operating profit was 59.4 billion won, down 42.1% from a year earlier.

Sales for the same period fell 9.2% to 3.2034 trillion won, and net profit dropped 76.4% to 8.2 billion won.

Dongkuk Steel Mill said it suffered deteriorating revenue due to lower sales from weak steel demand, falling product prices, and higher cost burdens such as electricity rates and scrap.