Dongkuk Steel Vice Chairman Jang Sae-wook.

Dongkuk Steel chalked up 56.2 billion won in operating profit in the first quarter of this year on a consolidated basis, becoming a profitable when compared to the previous quarter. The figure represents a 16.3 percent surge over the same period a year ago.

But the steelmaker saw Q1 sales decline 9.6 percent over the previous quarter and 10.7 percent over the same period in 2019.

Dongkuk Steel saw Q1 net loss stand at 120.8 billion won, due to losses in its overseas operation’s equity method.
Dongkuk Steel saw Q1 sales decline as the COVID-19 pandemic spread, and the steel market has been sagging since last year, but the steel maker’s operating profit expanded on the back of its intensive retrenchment and rising sales of value-added products. Dongkuk Steel posted 1.114.4 trillion won in Q1 sales.

The economic fallout of the spread of the novel coronavirus is expected to have a full-fledged effect on the Korean and global steel markets in the second quarter. Therefore, Dongkuk Steel plans to employ a flexible production schedule, as well as marketing and operational expenses.

An image of Dongkuk Steel’s “Luxteel Bio.” (Photos: Dongkuk Steel)

Dongkuk Steel Succeeds in Development of LUXTEEL UNI-CERA

Dongkuk Steel has succeeded in the development of LUXTEEL UNI-CERA, an incombustible, ceramic color steel. Of late, frequent fires at high-rise buildings have reminded the citizenry of the significance of using nonflammable construction materials.

The development of LUXTEEL UNI-CERA came after four years of research. In 2018, Dongkuk Steel developed a non-flammable interior color steel, whose certification has been obtained.

In keeping with the necessity of developing an exterior color steel in a long-term perspective, Dongkuk Steel became the first steel maker to develop LUXTEEL UNI-CERA, which is characterized with easy cleaning and weatherability.

In particular, the latest steel product, made with a ceramic resin, dubbed “Dream Resin” among color steel materials, is the sole product guaranteed for easy cleaning and weatherability for 20 years.

Meanwhile, as the novel coronavirus has spread globally, antibiotic steel products have emerged as new growth engines for steel makers.

As public awareness toward health care and hygiene rise up, antibiotic and virus resistant functions in construction materials is getting more significant. Dongkuk Steel is at a forefront of introducing antibiotic and virus resistant steel products.

Among Dongkuk Steel’s mainstay products are “Luxteel Bio,” a product containing properties such antibiotics, anti-mold, deodorization, and anti-graffiti on top of color.

The premium steel product is expected to be in wider use in areas such as elevator fire doors, the interior of ordinary structures, pharmaceutical companies, semiconductor plants and food factories.