|Jul 21, 2017|
|Jul 21, 2017|
Currency in KRW
|Full time employees:||--|
Hyundai Steel Co. engages in the manufacture and sale of steel products. Its products include bar-shaped steel, board, and heavy machines for construction, industrial, automobile, half-finished products, and by-products. The company was founded on June 10, 1953 and is headquartered in Incheon, South Korea.
Hyundai Steel is the second-largest steelmaker in South Korea, after Posco. In 2014, it ranked 14th in the world, with annual crude steel production of 20.58 million tons.
The company in 2013 started its third blast furnace in Dangjin, South Chungcheong Province. This put it in position to meet growing demand from Hyundai Motor and Kia Motors for automotive steel sheet.
Established in 1953 as Korea Heavy Industry, the company was privatized as Incheon Heavy Industry in 1962. It became a subsidiary of Hyundai Motor group via dissolution of big conglomerates, known as chaebol, after the 1997 Asian currency crisis. Although the company originally relied on electric furnaces, it entered the blast furnace business in 2006. It has the capacity to produce a total of 24 million tons of crude steel a year, including 12 million tons by blast furnaces.
Hyundai Steel group's blast furnaces have allowed it to snatch market share from rival Posco by increasing sales of automotive sheet to Hyundai Motor, as well as heavy-gauge sheet for shipbuilding. In 2015, the company decided to acquire fellow group member Hyundai Hysco, which is known for cold-rolled steel and development of lightweight sheet for vehicles. The company hopes to boost sales by pooling their resources.
Posco outperforms Hyundai Steel in markets for certain high-grade products, such as grain-oriented electrical steel sheet and transformation induced plasticity, or TRIP, steel. Although Hyundai Steel is buttressed by the Hyundai Motor group, it needs to improve its development capabilities and drum up business outside the group.
In the news
Cheap exports soar and production climbs
June 3, 2017 5:05 am JST
Some question whether corporate tax cut will go through
April 27, 2017 8:00 pm JST
Asian demand softens, but downside seen limited
February 10, 2017 4:00 am JST
December 1, 2016 10:00 am JST
June 22, 2016 2:00 am JST
June 16, 2016 12:00 pm JST
December 10, 2015 12:00 pm JST
- Local currency
- US Dollar
|Income before tax||1,120.21B|
|Dividends per share||750|
|Operating cash flow||2,916.56B|
Currency in KRW
|Income before tax||965.54M|
|Dividends per share||0.64|
|Operating cash flow||2,513.87M|
Currency in USD
- President & Director: Hak-Seo Kang
- Director, Vice President & Head-Finance: Choong-Shik Song
- Executive Board Member & Head-Process Technology: Ju-Tae Choi
- Executive Board Member & Head-Technology: Won-Sin Kim
- Managing Director & Head-Information Technology: Min-Su Seo
- Kia Motors Corp.(17.2%)
- CHUNG MONG KOO(11.8%)
- National Pension Service of Korea(6.9%)
- Hyundai Motor Co., Ltd.(6.8%)
- NH Investment & Securities Co. Ltd. (Private Equity)(5.5%)
- Dimensional Fund Advisors LP(1.4%)
- The Vanguard Group, Inc.(1.2%)
- BlackRock Fund Advisors(1.2%)
- Hermes Investment Management Ltd.(1.2%)
- Hyundai Steel Co.(0.7%)
- Website: http://www.hyundai-steel.com
- Address: 63 Jungbong-daero, Dong-gu, Inchon, 22525, South Korea
- Phone: +82.32.760.2114
Copyright © 2017 FactSet Research Systems Inc. All rights reserved.