[Edaily Reporter Lee Hye-ra] #HwaInBesteel, a manufacturer of structural steel for shipbuilding, announced on the 8th that it has signed a facility contract worth 15.4 billion won.

This investment is aimed at establishing special steel production facilities. It was pursued to secure a foundation for mid- to long-term growth through diversification of the product portfolio and expansion of production capacity.
Amid improving performance driven by sustained growth in demand from the shipbuilding industry, this move is part of a strategy to secure future growth engines. The company also plans to build production facilities to meet expanding demand for special steel in downstream industries such as the automotive sector, and through this, diversify its product portfolio to strengthen its foundation for entering new markets.
An official from Hwa In Bestel stated, “With the company’s performance improving due to the recovery of the shipbuilding industry and rising demand, now is the time to establish a foundation for new businesses to secure future growth opportunities.” The official added, “Going forward, we will strengthen the competitiveness of our existing shipbuilding structural steel business while fostering new businesses to lay the groundwork for sustainable growth and proactively respond to changes in the market environment.”