Dongkuk Steel Mill Co., Korea's No. 3 steelmaker, said Tuesday that it swung to loss in the third quarter of the year from a year earlier mainly due to low steel prices and currency loss.
Net loss reached 211 billion won ($184 million) in the July-September period, compared with a profit of 94 billion won a year earlier, the company said in a regulatory filing.
Sales declined 2.7 percent to 2.04 trillion won over the cited period, and the steelmaker also suffered an operating loss of 56.5 billion won.
The steelmaker attributed the third-quarter loss to depressed steel prices and a weak currency.
In the first three quarters of the year, the company logged a net profit of 46.1 billion won on sales of 6.61 trillion won. (Yonhap)