POSCO and Hyundai Steel Shut Down Indian Factories Due to COVID-19

[Asia Economy Reporter Hwang Yoon-joo] POSCO and Hyundai Steel's steel processing plants in India will shut down until the 31st due to concerns over the spread of the novel coronavirus infection (COVID-19).

POSCO announced that, following shutdown guidelines issued by Indian state governments, its POSCO India processing centers in Delhi and Pune will also suspend operations until the 31st. Hyundai Steel will halt operations at its coil plant and steel pipe manufacturing plant in India.

This factory closure follows the implementation of strengthened quarantine policies after India recorded a cumulative total of 173 confirmed COVID-19 cases and 4 deaths as of the 20th.

A POSCO official stated, "We are closely monitoring government guidelines and will operate the factories in accordance with government policies."

As of this morning, the number of confirmed COVID-19 cases in India is 360. Until mid-month, the confirmed cases did not exceed 100, but the number of patients has recently surged. The Indian government has issued a nighttime curfew allowing movement only from 7 a.m. to 9 p.m.

Accordingly, most factories of Korean companies established locally, such as Samsung Electronics, LG Electronics, and Hyundai Motor Company, have also suspended operations.

This content was produced with the assistance of AI translation services.