'Hinnamno Damage' POSCO Halts Production at Pohang Steelworks... "Minimizing Supply Disruptions"
Production Process Recovery Timing Undecided
Marine Corps 1st Division soldiers and local firefighters conducting rescue operations and damage recovery missions due to Typhoon 'Hinnamno' boarded an amphibious assault vehicle (KAAV) on the 6th in Pohang, moving toward the area affected by the POSCO fire. Photo by Marine Corps Headquarters
View original image[Asia Economy Reporter Choi Seoyoon] POSCO Holdings announced on the 7th that it will halt all production processes, including steelmaking and rolling, at POSCO Pohang Steelworks due to factory flooding caused by Typhoon 'Hinnamnor'.
According to POSCO Holdings, the three blast furnaces, which are key facilities of the steelworks, were not damaged but were temporarily shut down (suspended operation). They plan to resume normal operation once power supply is restored. The timeline for restoring production processes, such as the hot rolling line that suffered flood damage, is undecided.
POSCO Holdings stated, "The Gwangyang Steelworks is operating normally, and some of the slabs produced at Pohang Steelworks will be transferred to Gwangyang Steelworks for processing," adding, "We will strive to minimize supply disruptions." POSCO is a major subsidiary of POSCO Holdings, accounting for 43.9% of the consolidated total assets as of the first quarter of this year.
Choi Jeong-woo, Chairman of POSCO Group, canceled other scheduled appointments the day before to visit Pohang Steelworks, inspect the damage sites and employee safety, and urged prompt recovery efforts. Chairman Choi said, "We will mobilize all possible methods, including switching production to Gwangyang Steelworks, to ensure rapid equipment recovery and prevent damage to our customers."
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The halted Pohang Steelworks was flooded extensively after the nearby Naengcheon stream overflowed due to record heavy rainfall in the Pohang area. To prevent secondary damage caused by power outages, POSCO Pohang Steelworks implemented emergency measures such as venting byproduct gas. POSCO Group stated, "So far, there have been no reports of casualties among employees."
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