KG Steel said on the 10th that, on a consolidation basis, its operating profit last year was provisionally tallied at 151.7 billion won, down 26.4% from a year earlier.
During the same period, revenue was provisionally tallied at 3.1934 trillion won, down 3.3%, and net profit was provisionally tallied at 134.9 billion won, up 1.9%.
KG Steel said production and sales fell due to a slump in the domestic construction market and greater international trade uncertainty, and that it was affected by the influx of Chinese galvanized and color steel sheet products priced below normal costs.
KG Steel said it plans to secure competitiveness through economies of scale by investing in facilities such as PLTCM (equipment that removes rust from hot-rolled coils and adjusts thickness) this year to enable a maximum annual capacity increase of 300,000 tons (t).