Hyundai Steel (004020.KS) Q1 2026: Operating Loss Reversed but Net Red Ink Persists as $5.8B Louisiana Mill Adds ₩1T in Debt
The swing to operating profit masks a structural tension: with borrowings cresting ₩10 trillion and a three-year construction horizon in Louisiana, Hyundai Steel is executing its largest-ever capital commitment at the trough of the steel cycle.
Source: 62nd Fiscal Year Q1 Report — Filed June 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions
