Hyundai Steel formulated a blueprint aimed at boosting its annual sales up to 26 trillion won by 2020 and 31 trillion won by 2025.
Hyundai Steel was reborn as a new company with assets of 31 trillion won and sales of 20 trillion won after being merged with Hyundai Hysco on July 1.
Korea’s second largest steel maker held a vision declaration ceremony on July 14 at its headquarters in Seoul. During the ceremony, the company presented a new vision of "creating new value beyond the limit of steel."
Hyundai Steel aims to increase its yearly sales up to 26 trillion won by 2020 by pursuing diversification of its steel products and the rationalization of its steel forging business.
More specifically, Hyundai Steel plans to achieve sales of 1.5 trillion won in the area of special steel products, 2.5 trillion won in overseas steel service centers, 1 trillion won in vehicle lightening, and 1.5 trillion won through development of new markets and products.
