Korea Sunjae Reports 54.7% Annual Net Profit Decrease..."Due to Weak Steel Market Conditions"

[Asia Economy Reporter Won Dara] Korea Sunjae announced on the 26th that its annual consolidated net profit for last year was 3,087.71 million KRW, a 54.7% decrease compared to the previous year. Operating profit for the same period decreased by 3.7% to 6,691.76 million KRW, and sales decreased by 7.4% to 185,477.68 million KRW. The company explained the main reasons for the changes in the profit and loss structure as "a downturn in the steel market and a decrease in sales and profits due to a drop in steel product selling prices."