Shin Steel announced on the 24th that its subsidiary, SHIN STEEL MEXICO S.A. DE C.V., will conduct a shareholder-allocated paid-in capital increase worth 17.7708 billion won.

The capital increase will be carried out by converting 12 million USD, which Shin Steel lent to the Mexican entity, into an equity investment. The company explained that the purpose of this capital increase is to improve the capital structure of the subsidiary by converting the loan into equity.

The newly issued shares total 2,087,700 common shares, with an issue price of 8,506 won per share (based on the local par value of MXN 100). The number of issued shares prior to the capital increase is 1,684,181, and the new share allocation ratio is 1.2395936 shares. Both the payment date and the new share allocation base date are July 24, 2026, and the controlling company, Shin Steel, will subscribe to all unsubscribed shares.

The amount of 17.7708 billion won, recorded as debt repayment funds, was calculated by applying the Seoul Foreign Exchange Brokerage posted exchange rate as of the issuing company's local general meeting of shareholders date.

SHIN STEEL MEXICO S.A. DE C.V. is a steel coil center engaged in the manufacturing and distribution of steel products, with total assets of 31.658127413 billion won as of the end of 2025. It is a major subsidiary accounting for 15.80% of Shin Steel's consolidated total assets.