Korean manufacturers have become hopes for automakers

While the steel industry of Korea continues to fight a long decline, auto-components are beneficial from the prosperous automobile market.

According to the results of its activities for the third quarter, from the point of view of the total sales, Posco takes a leading position in the ranking, and the Hyundai Steel is behind. However, the profit champion was Hyundai Hysco, a subsidiary of Hyundai Motor Group, which specializes in the production of key material for steel automobile plates. The quarterly growth of the company's operating profit amounted to 9.63 percent, which significantly exceeds Posco with its 5.97 percent and the Hyundai Steel with 5.15 percent.

The next next in line were the Seah Special Steel and Seah Besteel, which feel confident, specializing in steel rods and plates used in the production of cars. The companies received positive examinations on their financial stability. The noticeable growth of these manufacturers became largely explained by the prosperity of the automotive industry.

The official representative of the Korean Association Iron & Steel said: "In order to survive during the decline in the market, you need to focus on sectors with high added value such as steel sheets for vessels or cold -rocked sheets for cars or electronic goods."

The Korean International Trade Association in its recent annual review suggested that the national metallurgical industry will continue to experience difficulties next year, while information technologies and automotive industries will prosper.