Dongkuk Steel to invest 25-B won in expanding color-coated steel production

Dongkuk Steel Mill Co. will invest 25 billion won in expanding its current color-coated steel production lines to 850,000 tons in 2021 in its cold-rolled steel output facility.

The company increased its color-coated steel production to the current 750,000 tons in 2016 from 300,000 tons in 1999.

The number of its output lines for the product also rose to eight from two during that span.

Color-coated steel is utilized in home appliances, elevators, walls, roofs, garage doors, and numerous other parts of buildings and houses.

Dongkuk Steel earns 30 percent of its sales from cold-rolled steel products, such as color-coated steel and galvanized steel sheets.

In the first quarter, Dongkuk Steel suffered a net loss of 120.82 billion won, shifting from a net profit of 729.9 million won in the previous year.