The Korea Fair Trade Commission announced on Feb. 17 that it has decided to bring an accusation against Hyundai Steel, Yamato Korea Holdings, Korea Iron & Steel and Daehan Steel with regard to steel scrap-related purchase collusion.In addition, the commission is going to accuse the corporation and e
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
SeAH Besteel announced on Jan. 27 that it has won an order from a Taiwanese client for about 5,000 tons of special steel to be used for producing the bolts and nuts for offshore wind turbines.Special steel used for offshore wind turbine fasteners are a high-value product with high entry barriers and
The Korea International Trade Association announced on Dec. 6 that the U.S. Department of Commerce’s tariff rate on South Korean oil pipelines was recently fixed at 9.33 percent to 15.07 percent in its third anti-dumping annual review for the period of Dec. 1, 2017 to Nov. 30, 2018.The final tariff
The author is an analyst of NH Investment & Securities. He can be reached at midas.sohn@nhqv.com. -- Ed. In 2020, small/mid-cap stocks have led the market, rallying strongly on ample liquidity, economic stimulus packages, and Korea’s New Deal policies. In 2021, the fundamentals of large-caps are exp
South Korean Minister of Trade, Industry and Energy Sung Yun-mo and U.K. Secretary of State for Business, Energy and Industrial Strategy Alok Sharma discussed bilateral economic cooperation on Oct. 26.The United Kingdom is South Korea’s second-largest export destination in Europe behind Germany. Sou
The U.S. Department of Commerce has adjusted its anti-dumping tariffs on South Korean oil pipelines to 4.23 percent to 9.24 percent by recalculating the result of its annual review for 2015 and 2016.The final tariff rate is 9.24 percent for Hyundai Steel and 4.23 percent for SeAH Steel. This is beca
SeAH Steel, POSCO and DKC will participate in the Kitimat Project as thick wall steel pipe suppliers.The project is to build a natural gas liquefaction plant in Kitimat, Canada, procure natural gas from local gas fields and export it to Asia in the form of LNG. The size of the largest LNG developmen
The author is an analyst of KB Securities. He can be reached at swhong@kbfg.com. -- Ed.2Q20 consolidated OP of KRW18.8bn beats market consensus by large marginSeAH Besteel recorded 2Q20 consolidated (K-IFRS) revenue of KRW564.7bn (-28.6% YoY) and OP of KRW18.8bn (-25.2% YoY; 3.3% OPM). Revenue misse
The author is an analyst of Shinhan Investment Corp. He can be reached at hyunwook.kim@shinhan.com. -- Ed. In the midst of internal changesSeAH Besteel is Korea’s largest special steelmaker with domestic market share of over 40% as of 2019. The company is expanding nonferrous metal and special steel
South Korean steelmakers in China are restructuring their business to enhance their profitability amid a global recession and a decline in product price.For example, Hyundai Steel is planning to integrate its Beijing and Tianjin Steel Service Centers with each other for personnel reduction and apply
The United States Court of International Trade (USCIT) put the brakes on the U.S. Commerce Department’s tariffication on South Korean steel products, pointing out that the department’s Particular Market Situation (PMS) provision application to South Korean carbon steel pipes for ordinary piping lack
The United States Department of Commerce has imposed an anti-dumping duty of 53.8 percent, 33 percentage points higher than in the previous year, on Donga Steel’s heavy walled rectangular welded carbon steel pipes and tubes. In addition, the department raised its tariffs on other South Korean steelm
The U.S. government’s preliminary decision to exempt Korean cold-rolled steels from anti-dumping duties has given a breathing space to Korean steel manufacturers including Hyundai Steel.The U.S. Department of Commerce released the results of the second preliminary judgment on cold-rolled steel produ
Industry tracker CEO Score recently analyzed the 51 South Korean business groups led by chairpersons and constituting the 59 large business groups designated by the Korea Fair Trade Commission and said on Oct. 16 that the total equity value of the chairpersons of the 51 groups and their families was
SeAH Besteel has won an order from the United States to produce casks for transporting spent nuclear fuel, taking an important step toward building the nuclear power plant dismantling industry.SeAH Besteel signed a contract to supply 17 spent nuclear fuel containers with Orano TN, a U.S. company whi
The United States has more than doubled tariffs on Korean oil pipelines. U.S. trade pressure is mounting on Korea as U.S. President Donald Trump is seeking to strip it of the developing country status in the World Trade Organization (WTO).The U.S. Department of Commerce decided to impose a 38.87 per
SeAH Holdings Corp., the holding company of SeAH Group, announced on June 3 that it completed the second plant of SeAH Steel Vina (SSV), a subsidiary incorporated in Vietnam, on May 30.In June 2017, SeAH Holdings broke ground for the second SSV plant with an annual production capacity of 100,000 ton
The United States Department of Commerce recently fixed its countervailing duty on POSCO’s hot-rolled steel sheets at 41.57 percent after the United States Court of International Trade told the department to recalculate it for lack of reasonable grounds. Earlier, the department imposed a countervail
The United States Department of Commerce is predicted to almost triple its anti-dumping duties on South Korean steel companies’ oil pipeline products as compared with last year despite the United States Court of International Trade’s recent ruling against its duties on oil country tubular goods impo