SeAH Metal, a subsidiary of SeAH Special Steel, will stop the production and sales of its stainless steel wire business from December 31 this year due to decreasing profitability amid worsening market competitiveness.

The company forecasted that the end of the stainless steel wire business would result in a drop in consolidated sales while profitability and cash flow would improve.

The company will transfer its focus to production and sales of automobile components.