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POSCO says normalization of typhoon-hit steel mill unlikely until Q1 2023

Korea Economic Daily LogoKorea Economic Daily2 mo ago

POSCO says normalization of typhoon-hit steel mill unlikely until Q1 2023 - Korea Economic Daily

Quick Summary:

POSCO Holdings Inc., the holding company of South Korea’s largest steelmaker, expects its steel mill in the southern port city of Pohang flooded due to a super typhoon to return to normal operations in the first quarter of next year at the earliest.

A POSCO official also said on Thursday: “It is only possible in the first quarter of next year to operate the remaining five factories, including the second hot-rolled mill, at the level seen before the typhoon.”The POSCO official’s remarks are a reversal of the company’s position just a couple of weeks ago that normalization of its entire plants in Pohang would be possible by the end of this year.

Jang Young-jin, first vice trade and industry minister, said at a media briefing on Thursday that the government expects 13 out of 18 factories in Pohang to return to normal by the end of this year and the rest by the first quarter of next year, reaffirming its earlier stance that it will take at least six months before the affected plants return to full operations.


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POSCO says normalization of typhoon-hit steel mill unlikely until Q1 2023 - Korea Economic Daily (Picture 1)POSCO says normalization of typhoon-hit steel mill unlikely until Q1 2023 - Korea Economic Daily (Picture 2)POSCO says normalization of typhoon-hit steel mill unlikely until Q1 2023 - Korea Economic Daily (Picture 3)

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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 20:12:04 (2 months ago)

News Timezone: GMT +8:00

Ranking: #1471 (out of 3345 stories this day)

News Source URL: kedglobal.com

Language: English

Article Length: 468 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 680461

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About Korea Economic Daily

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Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 11 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 13 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #91

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