Buy Or Sell Opportunity • Jun 05
Now 24% overvalued Over the last 90 days, the stock has fallen 16% to ₩2,275. The fair value is estimated to be ₩1,828, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩2,145, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 16x in the Metals and Mining industry in South Korea. Total loss to shareholders of 39% over the past three years. New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings have declined by 23% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 23% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩80.8b market cap, or US$53.5m). Announcement • Mar 17
Korea Steel Co., Ltd., Annual General Meeting, Mar 31, 2026 Korea Steel Co., Ltd., Annual General Meeting, Mar 31, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 98, gongdandong-gil, chilseo-myeon, haman-gun, gyeongsangnam-do, South Korea Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩1,763, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 13x in the Metals and Mining industry in South Korea. Total loss to shareholders of 14% over the past three years. Upcoming Dividend • Aug 21
Inaugural dividend of ₩100.00 per share Eligible shareholders must have bought the stock before 28 August 2025. Payment date: 15 September 2025. This is the first dividend for Korea Steel since going public. The average dividend yield among industry peers is 2.9%. Buy Or Sell Opportunity • Mar 31
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.0% to ₩1,635. The fair value is estimated to be ₩2,139, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has declined by 35%. Announcement • Mar 18
Korea Steel Co., Ltd., Annual General Meeting, Mar 31, 2025 Korea Steel Co., Ltd., Annual General Meeting, Mar 31, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 98, gongdandong-gil, chilseo-myeon, haman-gun, gyeongsangnam-do, South Korea Announcement • Dec 19
Korea Steel Co., Ltd. (KOSE:A007280) announces an Equity Buyback for KRW 6,000 million worth of its shares. Korea Steel Co., Ltd. (KOSE:A007280) announces a share repurchase program. Under the program, the company will repurchase up to KRW 6,000 million worth of its shares pursuant to a contract with Samsung Securities Co., Ltd. The purpose of the share repurchase is to stabilize stock prices and enhance shareholder value. The repurchase program will expire on June 18, 2025. As of December 18, 2024, the company had no shares within scope available for dividend and had no shares in treasury through other repurchase. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩1,417, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 9x in the Metals and Mining industry in South Korea. Total loss to shareholders of 56% over the past three years. New Risk • Nov 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Market cap is less than US$100m (₩87.6b market cap, or US$62.4m). New Risk • Mar 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.4% Last year net profit margin: 5.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (3.0x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (3.4% net profit margin). Market cap is less than US$100m (₩106.4b market cap, or US$80.1m). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. No independent directors (4 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS ₩225 (vs ₩49.00 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩187.9b (up 111% from 3Q 2020). Net income: ₩12.0b (up ₩13.7b from 3Q 2020). Profit margin: 6.4% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 08
First quarter 2021 earnings released: ₩12.00 loss per share (vs ₩4.00 loss in 1Q 2020) The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2021 results: Revenue: ₩134.2b (up 55% from 1Q 2020). Net loss: ₩626.5m (loss widened 437% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improved over the past week After last week's 16% share price gain to ₩3,600, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 29x in the Metals and Mining industry in South Korea. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 22% share price gain to ₩2,415, the stock trades at a trailing P/E ratio of 27.4x. Average trailing P/E is 22x in the Metals and Mining industry in South Korea. Total loss to shareholders of 29% over the past three years. Announcement • Apr 07
Korea Steel Shapes Co., Ltd. announced that it has received KRW 20 billion in funding from IBK Capital Corporation, Shinhan Financial Investment Co., Ltd., Korea Investment & Securities Co., Ltd., Investment Arm, BNK Securities Co., Ltd., Investment Arm, Hanyang Securities Co., Ltd., Investment Arm On April 5, 2021, Korea Steel Shapes Co., Ltd. (KOSE:A007280) closed the transaction. Announcement • Feb 27
Korea Steel Shapes Co., Ltd., Annual General Meeting, Mar 29, 2021 Korea Steel Shapes Co., Ltd., Annual General Meeting, Mar 29, 2021, at 10:00 Korea Standard Time. Is New 90 Day High Low • Dec 02
New 90-day high: ₩2,045 The company is up 36% from its price of ₩1,500 on 03 September 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. Is New 90 Day High Low • Oct 12
New 90-day high: ₩2,000 The company is up 44% from its price of ₩1,385 on 14 July 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 9.0% over the same period. Announcement • Sep 26
Korea Steel Shapes Co., Ltd. announced that it has received KRW 28.2001311 billion in funding from a group of investors On September 23, 2020, Korea Steel Shapes Co., Ltd. (KOSE:A007280) closed the transaction. Is New 90 Day High Low • Sep 21
New 90-day high: ₩1,970 The company is up 37% from its price of ₩1,435 on 23 June 2020. The South Korean market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 8.0% over the same period. Announcement • Sep 04
Korea Steel Shapes Co., Ltd. announced that it expects to receive KRW 27.80004915 billion in funding Korea Steel Shapes Co., Ltd. (KOSE:A007280) announced a private placement of 20,592,629 common shares at a price of KRW 1,350 per share for gross proceeds of KRW 27,800,049,150 on September 3, 2020. The shares will carry a face value of KRW 500 and will be issued at a premium. The transaction will take place through third party allotment. Post completion of the transaction, the number of shares will increase from 32,353,490 shares to 52,946,119 shares. The transaction is expected to close on September 23, 2020. The transaction has been approved by the board of directors of the company. Announcement • Jul 31
Magic Display Co., Ltd. completed the acquisition of unknown stake in Korea Steel Shapes Co., Ltd. (KOSE:A007280) from KSS Holdings Co.,Ltd. Magic Display Co., Ltd. agreed to acquire unknown stake in Korea Steel Shapes Co., Ltd. (KOSE:A007280) from KSS Holdings Co.,Ltd. on March 25, 2020. The transaction is expected to close on April 24, 2020.
Magic Display Co., Ltd. completed the acquisition of unknown stake in Korea Steel Shapes Co., Ltd. (KOSE:A007280) from KSS Holdings Co.,Ltd. on April 24, 2020. 
