The year 2025 was a period in which the stainless steel industry continued to operate amid changes in the global economic environment and the international trade structure. Nevertheless, the Company conducted its business in a stable manner, supported by the strength of the domestic market as its core revenue driver, together with efficient management and long-standing expertise in the stainless steel business.
Competition in the domestic market became increasingly diversified with the expanded presence of imported products, particularly from China, which influenced pricing levels and competitive dynamics. In response, the Company focused on differentiation through product quality, service standards, delivery reliability, and a deep understanding of domestic customer needs. These efforts enabled the Company to maintain customer confidence and long-term business relationships.
With respect to raw materials, the Company closely monitored nickel price movements and managed procurement plans and inventory levels in line with market conditions. This approach supported pricing that appropriately reflects underlying costs while maintaining sustainable competitiveness.
In parallel, the Company continued to develop export market opportunities, taking into consideration international trade policies and regulatory developments, including the broader context of trade policy directions associated with U.S. President Donald Trump, which may influence trade flows and tariff measures in certain markets. These considerations help enhance flexibility and balance within the Company’s revenue base over the long term.
The Company remains committed to conducting its business in accordance with ESG principles, with an emphasis on efficient resource utilization, environmental impact management, workplace safety and occupational health, continuous employee development, and sound corporate governance founded on transparency and accountability to all stakeholders. These practices form the foundation for sustainable value creation and long-term growth.
Looking ahead to 2026, the Company will continue to strengthen its position in the domestic market as a core strategy, enhance value-added products and services, improve operational efficiency, and selectively expand business opportunities in potential markets. These efforts aim to support stable and sustainable growth amid an evolving competitive landscape.
On behalf of the management team, I would like to express my sincere appreciation to our customers, business partners, shareholders, financial institutions, and employees for their continued support. The Company remains committed to strengthening its organization and creating sustainable value for all stakeholders.
Yours sincerely,