8-K

                                  UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 8 - K

                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

      Date of Report (Date of earliest event reported): December 30, 2002
                              (December 23, 2002)

                           NATIONAL STEEL CORPORATION

             (Exact name of registrant as specified in its charter)

                                    Delaware

                 (State or other jurisdiction of incorporation)

         1-983                                            25-0687210
(Commission File Number)                       (IRS Employer Identification No.)

4100 Edison Lakes Parkway, Mishawaka, IN                   46545-3440
(Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code:       574-273-7000



ITEM 5. FINANCIAL STATEMENTS AND EXHIBITS

National Steel Corporation issued a press release on December 23, 2002 reporting
its November 2002 results.

A copy of this press release is attached hereto as Exhibit 99.1.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

Exhibit 99.1 Press release dated December 23, 2002.

                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                           NATIONAL STEEL CORPORATION

Date: December 30, 2002    By: /s/ Kirk A. Sobecki
                               ----------------------------
                               Kirk A. Sobecki

                               Senior Vice President and Chief Financial Officer

EX-99.1

                                                                    Exhibit 99.1

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                                                      National Steel Corporation
                                                      4100 Edison Lakes Parkway
                                                      Mishawaka, IN  46545-3440
News Release

Media Contact:                        Tamara J. Freeman
                                      574-273-7558

Analyst / Investor Contact:           William E. McDonough
                                      574-273-7414

                  NATIONAL STEEL REPORTS NOVEMBER 2002 RESULTS

     Mishawaka, IN, December 23, 2002 -- National Steel Corporation today filed
a Form 8-K for the entities that filed Chapter 11 and reported a net loss for
November of $9.9 million. Including all of the entities that did not file
Chapter 11, National Steel had a net loss of $10.2 million. The November loss
was attributed to higher planned maintenance outage costs and lower shipments
due to seasonal reductions. Average selling prices continued to remain strong
primarily as a result of a better mix of shipments. As indicated in the third
quarter 2002 10-Q and associated press release, the fourth quarter 2002 is
projected at a net loss due to significant maintenance outage costs and the
seasonal reduction in demand.

     EBITDA for November was $6.0 million, which brings the year to date EBITDA
to $39.6 million. Additionally, borrowings decreased during the month by $6
million, to $71 million at November 30, 2002. Total liquidity from cash and
availability under the Company's DIP credit facility remained strong at $253
million at month-end, as compared to $237 million at September 30, 2002.

     "The fourth quarter 2002 is proceeding as we had planned. Although
increased costs associated with planned maintenance outages and a seasonal
reduction in our shipments will generate a net loss for the quarter, we continue
to have a strong liquidity position as we look to 2003," stated Mineo Shimura,
chairman and chief executive officer.

     All statements contained in this release, other than historical
information, are forward-looking statements. A variety of factors could cause
business conditions and the Company's actual results to differ materially from
those expected by the Company or expressed in the Company's forward-looking
statements. Additional information concerning these factors is available in the
Company's most recent Form 10-K for the year ended December 31, 2001.

     Headquartered in Mishawaka, Indiana, National Steel Corporation is one of
the nation's largest producers of carbon flat-rolled steel products, with annual
shipments of approximately six million tons. National Steel Corporation employs
approximately 8,200 employees. Please visit the Company's web site at
www.nationalsteel.com for more information on the Company and its products and
facilities.