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A view of Hyundai Steel's Dangjin Works. (Photo courtesy of Hyundai Steel) |
[Alpha Biz= Paul Lee] Hyundai Steel reported an operating loss of 19 billion KRW in the first quarter of 2024, marking a return to the red for the second straight quarter.
The company’s consolidated sales totaled 5.56 trillion KRW, down 6.5% year-on-year.
The losses are attributed to the continued downturn in the steel market—driven by a slowdown in the construction sector—as well as a decline in product shipments due to labor strikes.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
