Dongkuk Steel announced on the 26th that its separate basis operating profit for the second quarter was 40.5 billion KRW, a 21.4% decrease compared to the same period last year.
Although sales increased by 118.4% year-on-year to 940.2 billion KRW, net profit fell by 40.6% to 23.1 billion KRW.
Dongkuk Steel explained that amid the downturn in the upstream industry, it minimized the decline in operating profit by reducing costs through night operations and inventory cuts, and by implementing a production and sales strategy focused on profitability.
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