POSCO Pohang No.1 Blast Furnace Retires... 'Jongpungsik,' Pillar of Korean Industrialization

Pohang Steelworks No.1 Blast Furnace Closing Ceremony Held
A Chapter in Korean Economic and Steel History Ends
55.2 Million Tons of Molten Iron Produced Over 48 Years and 6 Months
Considering Historical Value as Korea's First Blast Furnace, 'Pohang No.1 Blast Furnace Museum' Construction Planned

[Asia Economy Reporter Hwang Yoon-joo] Pohang No. 1 Blast Furnace, which was the cornerstone of South Korea's economic development, is disappearing into history. It has contributed to Korea's industrialization for 48 years and 6 months since June 1973.

POSCO announced on the 29th that it held a closing ceremony for Blast Furnace No. 1 at the Pohang Steelworks. The term "jongpung" (終風) refers to extinguishing the fire of a blast furnace that has reached the end of its lifespan. Attendees included President Kim Hak-dong, Safety and Environment Headquarters Director Lee Si-woo, Management Support Headquarters Director Yang Won-jun, Pohang Steelworks Director Nam Soo-hee, Technical Research Institute Director Lee Deok-rak, representatives from the POSCO labor union, and the labor-management council.

Construction of the Pohang Steelworks began on April 1, 1970, and it is a history of the Korean economy itself. Due to the lack of technology and experience in integrated steelworks, the project proceeded by signing a technical service contract with the Japanese government and Nippon Steel Corporation. The funds for equipment purchases were also secured through the Japan-Korea Claims Settlement Funds and commercial loans. From its inception, the Pohang Steelworks faced considerable external pressure, including political demands for kickbacks. The first president, Honorary Chairman Park Tae-joon, was able to focus on building the integrated steelworks after receiving full authority over fund usage through a private meeting with President Park Chung-hee. When construction began, Chairman Park famously told the workers, "Since we are building this with the Japan-Korea Claims Settlement Funds, which are the blood price of our ancestors, if we fail, we will have committed an unforgivable sin in our national history and must atone by drowning in Yeongil Bay." This is the well-known POSCO 'Right Turn Spirit' (우향우 정신). Securing raw materials was also challenging; in 1971, Chairman Park personally flew to Australia to negotiate and barely secured a supply contract.

After 3 years and 2 months of fundraising, on June 9, 1973, the Pohang Steelworks finally poured molten iron from Blast Furnace No. 1 amid many difficulties. To commemorate this day, June 9 was designated as "Steel Day." With the successful completion of the blast furnace, South Korea was able to produce steel, known as the "rice of industry," independently. This molten iron became the foundation for the rapid growth and global competitiveness of domestic manufacturing industries such as shipbuilding, automobiles, and home appliances. This is why Pohang No. 1 Blast Furnace is also called the "National Blast Furnace" or "Economic Blast Furnace."

The total amount of molten iron produced by Pohang No. 1 Blast Furnace over nearly half a century reached 55.2 million tons. This amount could build 1,380 ultra-large oil tankers of 300,000 tons each, produce 55.2 million mid-sized cars, or construct 1,623 Incheon Bridges. Although the small-sized No. 1 Blast Furnace, with a volume of 1,660 cubic meters, was less productive and stable compared to the recently completed ultra-large blast furnaces of over 5,500 cubic meters, POSCO extended its life based on years of accumulated ironmaking technology, recognizing its deep historical symbolism.

Considering the historical value and significance of No. 1 Blast Furnace, POSCO plans to completely cool the furnace interior, carry out demolition work, and convert it into the "Pohang No. 1 Blast Furnace Museum" to open it to the public. Additionally, to compensate for the annual production decrease of about 1 million tons following the closure of No. 1 Blast Furnace, POSCO will improve the raw material mixing ratios of the remaining eight blast furnaces and respond efficiently to prevent steel supply issues in related industries.

President Kim said, "I still vividly remember the late Honorary Chairman Park Tae-joon shouting 'Manse' (hurrah) with tears in front of No. 1 Blast Furnace with the employees on the first tapping day, June 9, 1973. It is truly a moment filled with mixed emotions. The reason South Korea, which had no proper factories, could grow into one of the world's top 10 economies in a short time was thanks to Pohang No. 1 Blast Furnace and the hard work of everyone here," he reflected.

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