KG Dongbusteel second-quarter net income jumps on production improvements

KG Dongbusteel said Wednesday its second-quarter net income surged 123.8 percent from a year earlier, driven by improved production efficiency and a strategic focus on high-margin items.

Net profit totaled 93.4 billion won ($65.3 million) for the three months ended June 30. Operating profit climbed 16.9 percent to 43.1 billion won ($30.1 million), while revenue grew 11.3 percent to 896 billion won ($627 million).

"The first quarter was a period of strengthening our internal foundations for mid-to-long-term growth through enhanced product competitiveness and facility investment," a company official said. "From the second quarter onward, the results of improving our production structure are being fully reflected in our indicators, and profitability-centered growth will accelerate further."

To sustain this momentum, the company is expanding new patterns for color-coated steel sheets and investing in galvanizing lines at its Incheon plant. These moves aim to boost sales of high value-added products and enhance production flexibility within its core business of manufacturing and selling cold-rolled, galvanized, and coated steel sheets.

For the first half of the year, cumulative revenue rose 5.2 percent to 1.7 trillion won ($1.19 billion). Cumulative operating profit fell 36.7 percent to 64.6 billion won ($45.2 million), while cumulative net income jumped 56.9 percent to 138 billion won ($96.9 million).