Full Opinion

Slip Op. 26-130 UNITED STATES COURT OF INTERNATIONAL TRADE KG DONGBU STEEL CO., LTD., DONGBU STEEL CO., LTD., and DONGBU INCHEON STEEL CO., LTD., Plaintiffs, v. Before: Jennifer Choe-Groves, Judge UNITED STATES, Court No. 22-00047 Defendant, and NUCOR CORPORATION and STEEL DYNAMICS, INC., Defendant-Intervenors. OPINION AND ORDER Dated: October 20, 2026 Brady W. Mills, Rudi W. Planert, Donald B. Cameron, Jr., Julie C. Mendoza, Eugene Degnan, Nicholas C. Duffey, Jordan L. Fleischer, Edward J. Thomas, III, and Mary Shannon Hodgins, Morris, Manning & Martin LLP, of Washington, D.C., for Plaintiffs KG Dongbu Steel Co., Ltd., Dongbu Steel Co., Ltd., and Dongbu Incheon Steel Co., Ltd. Sosun Bae, Senior Trial Counsel, and Claudia Burke, Assistant Director, Commercial Litigation Branch, Civil Division, U.S. Department of Justice, of Washington, D.C. On the brief were Brian M. Boynton, Principal Deputy Assistant Attorney General, and Patricia M. McCarthy, Director. Of counsel were Court No. 22-00047 Page 2 Ayat Mujais, Assistant Chief Counsel, Joseph Grossman-Trawick, Attorney, and Jack Dunkelman, Attorney, Office of the Chief Counsel for Trade Enforcement & Compliance, U.S. Department of Commerce, of Washington, D.C. Stephanie M. Bell, Alan H. Price, Theodore P. Brackemyre, Tessa V. Capeloto, Robert E. DeFrancesco, III, Derick G. Holt, Enbar Toledano, Maureen E. Thorson, Christopher B. Weld, Adam M. Teslik, and Paul A. Devamithran, Wiley Rein LLP, of Washington, D.C., for Defendant-Intervenor Nucor Corporation. Roger B. Schagrin, Christopher T. Cloutier, Elizabeth J. Drake, Luke A. Meisner, Jeffrey D. Gerrish, Nicholas J. Birch, William A. Fennell, Saad Y. Chalchal, Maliha Khan, and Alessandra A. Palazzolo, Schagrin Associates, of Washington, D.C., for Defendant-Intervenor Steel Dynamics, Inc. Choe-Groves, Judge: Plaintiffs KG Dongbu Steel Co., Ltd. (“KG Dongbu Steel”), Dongbu Steel Co., Ltd. (“Dongbu Steel”), and Dongbu Incheon Steel Co., Ltd. (collectively, “Plaintiffs” or “KG Dongbu”) filed an action challenging the U.S. Department of Commerce’s (“Commerce”) fourth administrative review of Certain Corrosion-Resistant Steel Products from the Republic of Korea (“Final Results”), 87 Fed. Reg. 2759 (Dep’t of Commerce Jan. 19, 2022) (final results and partial rescission of countervailing duty administrative review; 2019), and the accompanying Issues and Decision Memorandum for the Final Results and Partial Rescission of the 2019 Administrative Review of the Countervailing Duty Order on Certain Corrosion-Resistant Steel Products from the Republic of Korea. KG Dongbu Steel Co., Ltd. v. United States (“KG Dongbu I”), 47 CIT __, __, 648 F. Supp. 3d 1353, 1355 (2023). The Court twice remanded the case to Commerce. KG Dongbu I, 47 CIT at __, 648 F. Supp. 3d at 1361–62; KG Dongbu Steel Co., Court No. 22-00047 Page 3 Ltd. v. United States (“KG Dongbu II”), 48 CIT __, __, 695 F. Supp. 3d 1338, 1356–57 (2024). The Court sustained Commerce’s Final Results, as amended by, the Final Results of Redetermination Pursuant to Court Remand, ECF Nos. 57-1, 58-1, and the Final Results of Redetermination Pursuant to Court Remand, ECF Nos. 76-1, 77-1. KG Dongbu Steel Co., Ltd. v. United States (“KG Dongbu III”), 49 CIT __, __, 756 F. Supp. 3d 1326, 1337 (2025); see Judgment, ECF No. 91. In accordance with the U.S. Court of Appeals for the Federal Circuit’s Opinion and Mandate in KG Dongbu Steel Co., Ltd. v. Nucor Corp. (“KG Dongbu IV”), 181 F.4th 1335 (Fed. Cir. 2026), ECF Nos. 101, 103, it is hereby ORDERED that Commerce’s reconsideration of the first three equity infusions, determination of a countervailable benefit, and determination that this benefit passed through upon acquisition by KG Consortium were supported by substantial evidence and were not contrary to law, and the Court’s conclusions in KG Dongbu I, KG Dongbu II, and KG Dongbu III are reversed in conformity with KG Dongbu IV. Judgment will be entered accordingly. /s/ Jennifer Choe-Groves Jennifer Choe-Groves, Judge Dated: October 20, 2026 New York, New York