[Concall] POSCO "Overseas Car Production Base Shutdown Makes Q2 Loss Inevitable"

[Asia Economy Reporter Hwang Yoon-joo] POSCO stated on the 24th during a conference call, "Currently, the main target market of our overseas production bases is the automotive sector, so the suspension of operations by automobile companies is significantly impacting the operation of our overseas production facilities." They added, "Due to local government policies, a total of 10 overseas factories are currently suspended, and we need to monitor the situation until the 3rd of next month." POSCO continued, "We have shifted our management policy from focusing on profitability to cash flow, and we are responding by establishing cost reduction plans overseas as well." Regarding the decline in raw material prices, POSCO said, "The decrease in raw material prices relates to investments in iron ore and coal, but since iron ore prices remain stable, there is no possibility of impairment of investment assets."

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