Dongbu Steel said that it has become the nation's third integrated steelmaker, after POSCO and Hyundai Steel, by starting to produce hot rolled steel sheets from its new electric arc furnace mill in Dangjin.

Dongbu officials said that its new electric arc furnace mill in Dangjin is the world's largest, capable of producing 3 million tonnes of hot rolled steel sheets annually. Until now, US steelmaker Nucor Corporation had the largest global electric arc furnace mill, with an annual output capacity of 2.5 million tonnes.

Mr Han Kwang hee president & CEO of Dongbu Steel said that "With the production of both hot rolled and cold rolled steel sheets, the company's operating margin rate is expected to jump to 12.5% in 2010 from the current 3%. Dongbu Steel's strategy is to raise productivity to compete with larger steelmakers."

He added that, with operational launch of the electric arc furnace mill, Dongbu Steel aims to produce 300,000 tonnes of hot rolled steel sheets by the end of 2009, 2.5 million tonnes in 2010 and 3 million tonnes in 2011.

(Sourced from www.koreaherald.co.kr)