Dongbu Steel reports operating profit expectation

Dongbu Steel reports operating profit expectation

According to recent market reports, South Korean steelmaker Dongbu Steel expects to announce Won 142 billion ($119 million) operating profit for 2003 with an increase of 6% compared to 2002. The company plans to produce total 2.6 million tons of steel in 2004. Furthermore, Dongbu will invest Won 20 billion ($17 million) for its Asan Bay plate mill in 2004 and Won 60 billion ($50 million) for port construction. The port construction is scheduled to complete in 2007.