Dongkuk Steel posts 52% Q2 operating profit rise on AI data centre and shipbuilding demand

Dongkuk Steel reported Q2 2024 revenue of 9.96 trillion won, a 11.4% year‑on‑year increase, and operating profit of 456 billion won, up 52.3% from the same period last year. The profit surge was attributed to strong demand from large‑scale industrial infrastructure projects, notably semiconductor and AI data centre construction, as well as continued shipbuilding demand for high‑grade steel plates.

The company's subsidiary, Dongkuk CM, also posted a turnaround, recording a 211‑billion‑won operating profit after a loss in the prior year. The improvement was helped by the April imposition of provisional anti‑dumping duties on Chinese coated and colour‑steel products, which reduced low‑price imports and boosted domestic sales profitability. Export activity and the maintenance of high‑margin product sales further supported the earnings growth.