AJUSTEEL's First Disclosure After Joining Dongkuk Steel Group Shows 412% Debt Ratio and Operating Loss of 8.5B KRW
AJUSTEEL disclosed its corporate group status for the first time after joining Dongkuk Steel Group, revealing a debt ratio of 412.57% as of end-2025, indicating severe financial leverage.
Based on separate financial statements, operating loss was 8.5 billion KRW and net loss reached 33.5 billion KRW, reflecting a deteriorating earnings structure.
The controlling shareholder (Jang Se-ju) side holds 58.69% of equity, with affiliate Dongkuk C&M owning 58.29%, forming an indirect control structure.
In intercompany lending, AJUSTEEL provided a total of 85 billion KRW in loans to AJUSTEEL No.8 Special Purpose Company and H.Brown, showing active internal transactions among financial affiliates.
[AI Summary]While the company's weak financial health (debt ratio 412%, operating loss of 8.5B KRW) raises concerns, potential group support exists; however, high leverage implies persistent investment risk.
KOSPI Filing Information
Filing: Large Enterprise Group Status Disclosure [Annual And First Quarter Use (Individual Company)]