15 Pohang Steelworks Restarted After Hinnamno Damage... 2 Sites to Normalize Early Next Year

[Asia Economy Sejong=Reporter Dongwoo Lee] Fifteen POSCO Pohang plants, which had halted operations due to the super typhoon Hinnamnor, have resumed operations. The remaining two plants are expected to normalize by January next year.

The Ministry of Trade, Industry and Energy announced on the 29th that it received the final investigation results from the public-private joint 'Steel Supply and Demand Investigation Team'.

According to the report, the 2nd hot rolling plant, which suffered significant flood damage, began resuming operations on the 16th and was operating near pre-flood production levels during the site inspection on the 27th.

The investigation team stated, "Currently, equipment such as 2nd and 3rd electrical steel sheets, 1st and 2nd cold rolling, 1st and 2nd hot rolling, 2nd and 3rd heavy plates, 1st, 2nd, 3rd, and 4th wire rods, steel billets, STS2 cold rolling, and 1st electrical steel sheets have resumed operations." Accordingly, the production of high value-added products such as electrical steel sheets and stainless steel is also expected to normalize promptly.

The investigation team analyzed that once two plants, including plating and STS1 cold rolling, complete equipment restoration by January next year, the possibility of future supply disruptions will be low.

However, they explained that establishing a Business Continuity Plan (BCP) capable of preparing for top-level disasters such as typhoons, earthquakes, and fires, setting up an enterprise-wide disaster response system, improving flood prevention facilities such as drainage systems, and preparing for power outages with emergency generators remain tasks to be addressed. The Ministry of Trade, Industry and Energy plans to review legal measures and consider incorporating mandatory BCP establishment for major companies into relevant laws following legal examination.

An official from the Ministry said, "The investigation team contributed to systematic and timely responses by reflecting the perspectives of private experts in disaster, equipment, and supply fields regarding POSCO's disaster preparedness system, equipment restoration, and supply impact."

[Image source=Yonhap News]

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