Korea Steel한국특강

Korea Steel swung to a loss over the trailing twelve months while its share price has fallen sharply over the past year.

Korea Steel is a domestic steel maker that produces billets from scrap and rolls them into rebar and section steel for construction, shipbuilding, automotive and machinery customers. On trailing twelve-month figures to H1 2026 it posted a small operating loss of about ₩3.5B on revenue of ₩832B, with borrowings of ₩242B against cash of ₩28B. The share price closed at ₩2,165 on 2026-10-20, down 28.8% over one year, though up 14.4% over three months.

What stands out

• Trailing revenue of ₩832B is above the 2025 full-year figure of ₩767B, but operating income of -₩3.5B compares with a 2025 operating profit of ₩11.7B.
• Free cash flow over the trailing period was -₩8.2B, and liabilities are 165% of equity.
• The 2025 annual result showed a small net profit of ₩3.0B after a net loss of ₩2.9B in 2024.
• Recent filings include an asset revaluation decision (September) and its results (October 7), plus several largest-shareholder and 5%+ holding reports.
• The dividend yield is shown as 9.2%, while the price-to-book ratio is 0.3 and the P/E is not meaningful given the loss.
• No news headlines were included in the data for this period.

What to watch

• The next half-year or annual filings, to see whether operating margin turns positive again and how borrowings change.
• Details of the asset revaluation results, which were filed in October but are not described in the data provided.
• Ongoing shareholder changes and the net selling by foreign investors over the last 20 days, with foreign ownership down to 0.9% from 1.1%.