Dongkuk Steel reports sharp fall in Q3 earnings

Dongkuk Steel reports sharp fall in Q3 earnings

South Korean steelmaker Dongkuk Steel Mills (DSM) announced yesterday that it recorded a sharp decline in its net profit in the third quarter ending September 30, 2005, due to weak demand for its products and lower sales prices. Net income in the third quarter has been recorded as Won 10.7 billion ($10.2 million), down 90 percent as compared to the same quarter of 2004.