Hyundai Steel announced on August 3 that it recorded consolidated sales of 6.1073 trillion won, an operating profit of 57.7 billion won, and a net profit of 12.1 billion won for the second quarter of 2026. While sales increased by 2.7% compared to the same period last year, operating profit fell by 43.3%.
Sales rose by 6.4% from the previous quarter, driven by increased demand for rebar products and higher prices for key products. Operating profit also improved compared to the previous quarter.
Regarding its debt and borrowing ratio, the company stated, "There was a temporary increase due to new investments in U.S. steel mills, but we will continue efforts to enhance financial soundness from a medium- to long-term perspective."
Hyundai Steel plans to focus on expanding sales of key materials for the rapidly growing artificial intelligence (AI) and energy industries to strengthen profitability and secure new growth engines in the second half of the year.
Initially, the company aims to actively target infrastructure construction demand linked to the recently announced 'Three Major Mega Projects' in South Korea, expanding its supply of steel materials for AI infrastructure.
In line with plans for early completion of semiconductor fabs and additional investments, Hyundai Steel intends to secure more orders based on its comprehensive portfolio of steel products needed for construction and its top-level supply performance in the country.
Results in the power infrastructure sector are also becoming visible. Hyundai Steel established a dedicated organization for power infrastructure, including data centers, at the beginning of the year and has successfully secured orders for steel materials for seven new data centers.
Building on these order achievements and material competitiveness, the company plans to secure steel materials needed for large-scale data center construction and power infrastructure expansion projects in the future.
Hyundai Steel is also proactively responding to the growing demand in the energy sector. In line with the increasing demand for next-generation nuclear power plants, the company has completed the development and mass production system for high-specification plates for containment vessels and plans to supply samples to customers in the third quarter of this year.
Additionally, the company is working on expanding new demand through the localization of high-value-added new materials. Hyundai Steel has successfully localized high-durability materials for powertrains in response to the growing demand for high-strength and high-durability gears due to increased sales of hybrid vehicles.
This material not only offers high durability but also boasts superior price competitiveness compared to imported counterparts, and it is currently being successfully applied to certain vehicle models. The company plans to continue expanding its application range.
Furthermore, Hyundai Steel has developed high-strength crane rails that meet the quality standards of imported products, aiming to replace imports for major ports and steel mills, thereby contributing to improved profitability.
A Hyundai Steel official stated, "We will secure new demand through the expansion of sales of key materials for AI and energy industries and the development of high-value-added new materials, and we will improve profitability based on sustainable competitiveness."
* This article has been translated by AI.
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