The nation's largest steelmaker POSCO is likely to run a deficit last year for the first time since it was founded in 1968, according to the steel-making industry.
The steelmaker posted a net loss of 658 billion won in the third quarter of last year, and the company forecast in October that its annual net loss would be around 300 billion won in 2015 through its regulatory filing.
In 2010, POSCO's net income surpassed 4.2 trillion won but the figure went down to 1.3 trillion won in 2013 and further declined to 556.7 billion won in 2014.
Industry watchers said the low earnings is due to the oversupply from China and the falling price of raw materials.
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