Daiyang Metal bankruptcy petition dismissed after creditor withdrawal

Daiyang Metal said Tuesday that the Daejeon Bankruptcy Court dismissed a bankruptcy petition filed against it. The court issued the rejection order on July 31 under case number 2026Hahap7088 after the applying creditor submitted a formal notice withdrawing the request.

The company reported mixed pricing trends for the first half of the year. Average domestic selling prices reached 2.49 million won per ton, while export prices climbed to 3.73 million won per ton. Stainless steel cold-rolled sheets accounted for 97.6% of total sales, with byproducts making up 2.3% and solar or other segments just 0.1%.

Exports account for more than half of the company's total revenue, flowing primarily to markets in the European Union, Southeast Asia and North America. Its customer base includes major home appliance manufacturers alongside end-users in the sink, automotive parts, boiler, construction and industrial component sectors.

The firm has shifted its strategy toward securing large domestic and overseas appliance makers while reducing reliance on general distribution channels. This approach prioritizes direct deliveries to end-users and expands the share of high-value-added products such as ultra-thin steel sheets.