Korean Steelmaker Hyundai Hysco's Net Profit Soars 333 Percent

SEOUL, April 30, 2004; (Yonhap) Hyundai Hysco, a steelmaking unit of the Hyundai Motor Group, said Friday its first-quarter net profit surged 333.3 percent to 24 billion won (US$20.87 million) on increased sales of high value-added products and rising steel prices.

Hyundai Hysco's sales for the January-March quarter edged up 0.3 percent to 456.3 billion won, with its ordinary profit soaring 362.2 percent to 26.8 billion won