Archive · 30 Jan 2026
Hyundai Steel's 2025 Profit Drops 84% Amid Construction Slump
Hyundai Steel, a big company that makes steel in South Korea, had a really bad year in 2025.
They made much less money than the year before because not many people were building things, and other countries were making it harder for them to sell their steel.
Even though they sold more expensive steel products, their overall sales went down a little.
To make things better, they are planning to make new kinds of strong steel and build a big new factory in the United States to sell steel to car companies there.
They are spending a lot of money on this new factory, which should be ready by 2029.
Hyundai Steel's net profit dropped 84% in 2025 compared to 2024, falling to 1.4 billion won.
The decline was attributed to a prolonged slump in the construction industry and rising protectionism, including U.S. import tariffs.
Operating profit increased by 37% to 219.2 billion won, driven by sales of high-end products and government measures.
Sales decreased by 2.1% to 22.73 trillion won.
Hyundai Steel plans to begin mass production of advanced high-strength steel and expand supplies for offshore wind power facilities and nuclear reactors.
- Who
- Hyundai Steel Co., South Korea's second-largest steelmaker
- What
- Net profit plunged 84% in 2025 due to a downturn in the construction sector and rising protectionism
- When
- 2025
- Where
- South Korea and the United States
- Why
- Prolonged slump in the construction industry and growing protectionism, including U.S. import tariffs, weighed on earnings
- Net Profit 2025
- 1.4 billion won ($970,000)
- Net Profit 2024
- 8.8 billion won
- Operating Profit 2025
- 219.2 billion won
- Operating Profit 2024
- 159.5 billion won
- Sales 2025
- 22.73 trillion won
- Sales 2024
- 23.22 trillion won
- U.S. Tariffs on South Korean Steel
- Up to 50%
- New EAF Steel Mill Capacity
- 2.7 million tons per year
- Investment in U.S. Plant
- $5.8 billion
- Scheduled Completion of U.S. Plant
- 2029