The Korean steel industry is preparing to file an anti-dumping case against cheap Chinese and Japanese hot-rolled steel products.The Korean steel industry led by POSCO is preparing to file an anti-dumping complaint against Chinese and Japanese steel products, according to sources in the steel indust
Dongkuk Steel announced on Dec. 12 that it has completed the commercialization of its ultra-low-temperature reinforcement bars, called DK-CryoFlex BARs. This commercialization is part of the expansion of Dongkuk Steel’s premium reinforcement bar product lineup.Ultra-low-temperature reinforcement bar
Over the past seven years, the Korea Fair Trade Commission (KFTC) has fined big Korean companies more than 4 trillion won for violating the Fair Trade Act and other laws.Among them, the KFTC imposed the largest amount of fines (265.5 billion won for nine cases) on Hyundai Motor Company. The amount o
The U.S. Department of Commerce has imposed countervailing duties on Hyundai Steel and Dongkuk Steel, alleging that Korea’s cheap electricity rates are effectively subsidizing the Korean steel industry. This is the first time the U.S. government has slapped tariffs due to cheap electric power in a f
Samsung Heavy Industries has completed the shutdown of its local production subsidiary in China, Samsung Heavy Industries Ningbo Co., Ltd. This move comes as cost competitiveness in China has weakened due to reduced productivity and rising labor costs, eliminating the need for manufacturing faciliti
The entire 20 percent stake in Companhia Siderurgica do Pecem (CSP) held by POSCO Holdings will be transferred to ArcelorMittal Brazil, a Dutch steel company.In a business report released on March 9, POSCO Holdings announced the sale of its stake in CSP, saying, “We are trying to boost our asset eff
The Ministry of Trade, Industry and Energy and seven steelmakers (POSCO, Hyundai Steel, Dongkuk Steel, SeAH Steel, KG Steel, Daehan Steel and Aju Steel) signed an MOU on Feb. 16.According to the MOU, they will form an alliance for low-carbon steelmaking and R&D cooperation. In addition, they will pr
South Korean enterprises are being increasingly affected by the war in Ukraine, as the geopolitical risk and sanctions against Russia are leading to soaring raw material prices.The price of nickel per ton surged 44.28 percent to US$42,995 on March 8, when the price of aluminum per ton amounted to US
The U.S. Department of Commerce fixed its preliminary antidumping duty rates applied to thick plates imported from South Korea at 0.68 percent on June 15. The target companies are Dongkuk Steel, Hyundai Steel and Sungjin Steel. The current rates applied to the three companies are 2.26 percent, 2.49
Dongkuk Steel Mill has developed a color steel plate that blocks the COVID-19 virus for the first time in Korea. Dongkuk Steel’s "Luxteel Bio," Korea's first antibacterial color steel plate, kills the Covid-19 virus 99.9 percent within 30 minutes.Antibacterial color steel plates have been certif
Another worker died in an accident at Dongkuk Steel Mill.According to the police, an employee in his 50s who worked at the raw material warehouse at Dongkuk Steel Mill's plant in Nam-gu, Busan, died after being stuck between steel coils while taking wrappers from the coils, which weighed 6.3 ton
The Korea Fair Trade Commission announced that South Korea was home to 64 business groups and SK was the one with the largest number of subsidiaries, 144, as of Jan. 31. The commission also said that the group had no subsidiary in the financial and insurance sectors.The runner-up is Kakao, which had
The Ministry of Trade, Industry and Energy has launched the Green Steel Committee to gear up the domestic steel industry for carbon neutrality.The committee is an industrial-academic-government cooperation scheme to discuss the goal of 2050 carbon neutrality in the steel industry. POSCO chairman Cho
Despite the die-hard COVID-19 pandemic, Dongkook Pharmaceutical is enjoying brisk exports of its products.In 2020, the company exported intravenous anesthetic "Pofol Injection" to the Netherlands, Luxembourg, Singapore, and Japan as an emergency supply. It will export the product to Colombia this mo
Dongkuk Steel Mill Co. said on Dec. 3 that it has succeeded in developing an ultra-high-strength reinforcing bar that can withstand the load of more than seven mid-sized cars for the first time in Korea.Giga Reinforcing Rod, which was developed by Dongkuk Steel Mill’s in-house technology, has a yiel
The author is an analyst of NH Investment & Securities. He can be reached at william.ku@nhqv.com. -- Ed. While the majority of pharma plays have enjoyed share price expansion as of late on Covid-19 effects, earnings at CKD look to be justifying the firm’s valuations. Considering 2H20 R&D momentum, w
The author is an analyst of Shinhan Investment Corp. He can be reached at hyunwook.kim@shinhan.com. -- Ed. Collapse of HDC-Asiana deal could lead to: 1) legal battle over deposit; and 2) differential capital reductionHDC Hyundai Development Company’s planned acquisition of Asiana Airlines is likely
The author is an analyst of NH Investment & Securities. He can be reached at william.ku@nhqv.com. -- Ed. Owing to the Covid-19 outbreak, all pharmas have enjoyed a reduction in marketing costs. But, this positive, along with strong product sales, has resulted in CKD displaying outstanding 2Q20 earni
Dongkuk Steel Mill will strengthen its strategy of leading the market by expanding investment in high-end color steel plates.Dongkuk Steel Mill Co. decided to expand its production line of high-end color steel plates in Busan to an annual production capacity of 70,000 tons on July 9. It is planning
The author is an analyst of NH Investment & Securities. He can be reached at william.ku@nhqv.com. -- Ed. A large number of pharmaceutical/bio players, particularly testing kit companies, have been seeing earnings expansion amid the Covid-19 outbreak. With share prices of related treatment and vaccin