[Companies Overcoming COVID-19] "Strengthening Resilience for Sustainable Growth" The Tempering of Hyundai Steel

[Asia Economy Reporter Park So-yeon] Hyundai Steel has set its management policy for this year as securing sustainable growth drivers through strengthening corporate fundamentals. Hyundai Steel plans to focus its capabilities on qualitative growth this year by securing fundamental competitiveness, optimizing production, and achieving maximum profitability, moving beyond the previous emphasis on external scale and quantitative growth such as maximum production and maximum sales.

Hyundai Steel will also strive to optimize its business structure this year. With a clear perspective, it will review its position and current status, select competitive businesses and strategically nurture core businesses based on this, and strengthen the corporate fundamentals centered on these business groups. Rather than clinging to the justification of a diverse product portfolio, which was considered a strength of Hyundai Steel in the past, it plans to promote business structure reorganization to focus capabilities on core businesses and high value-added products to realize more fundamental and realistic competitiveness.

Hyundai Steel views that in a management environment where uncertainty has become routine, the way to guarantee sustainable growth is to accurately recognize the current situation and secure organizational capabilities to proactively respond to changes in circumstances. Through this prerequisite, it is focusing its capabilities on monitoring and predicting changes in internal and external environments to establish a risk response system that can proactively address threats and opportunities the company may face.

Furthermore, under the belief that for a company to endure, sincerity toward common social values such as safety, environment, and health must be accompanied, Hyundai Steel pursues principled corporate management. At the same time, its executives and employees secure trust from local communities and fulfill social missions by participating in the realization of social values. This is Hyundai Steel’s philosophy.

To this end, it secures broad social consensus through continuous communication with stakeholders in various fields. In addition, since the beginning of this year, Hyundai Steel has been accelerating innovative management by building an advanced 'Smart Enterprise' through company-wide smartization, including the manufacturing sector.

This content was produced with the assistance of AI translation services.