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[Alpha Biz=(Chicago) Reporter Paul Lee] Hyundai Steel announced on the 30th that it recorded sales of 25.9148 trillion won and operating profit of 87.3 billion won last year.
Sales decreased by 5.2% and operating profit decreased by 50.1% compared to 2022.
Regarding the slump, Hyundai Steel said it was affected by a drop in sales of bong-shaped steel products, falling product prices and higher electricity prices due to a slowdown in the construction market last year.
Hyundai Steel said it plans to focus its business capabilities on electricization and energy materials this year.
It plans to expand sales of auto steel plates to emerging countries this year and increase global sales to 21% of all auto steel plate sales by securing long-term supply to major carmakers.
Meanwhile, Hyundai Steel announced that it would establish and announce a mid-term dividend policy for about three years by the end of this year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
