Dongkuk Steel is considering suspending the sale of steel products by Chinese subsidiaries due to worsening profitability and using local plants as logistics bases.
According to Dongkuk Steel on the 17th, Dongkuk Steel China (DKSC), a Chinese corporation, recently exhausted its stock of color steel plates and stopped selling them.
DKSC recorded sales of 48.8 billion won and net loss of 19.8 billion won in the third quarter of this year. Sales fell 65% year-on-year, and net profit from 15.6 billion won turned into a deficit.
The plant in Jangin, Jiangsu Province, China, will be used as a logistics base for the time being.
Reporter Lee Ji-sun stockmk2020@gmail.com
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