Pohang Mayor Lee Gang-deok, "Let's Overcome the Steel Industry Crisis Together by Gathering Community Wisdom"

Major Steel Companies Halt Operations... Emergency Meeting Held with Related Agencies

Discussing Crisis Overcoming Measures, Strongly Urging Government for Support Plans

Mayor Lee Gang-deok: "Strengthening Community Communication, Focusing Administrative Power on Solutions"

On the 20th, Pohang City held an emergency meeting with related organizations to overcome the crisis in the local steel industry caused by the closure of Pohang Steelworks 1st Wire Rod Plant and the suspension of operations at Hyundai Steel Plant 2.

Pohang City held an emergency meeting with related organizations on the 20th to overcome the crisis in the local steel industry caused by the closure of Pohang Steelworks 1st Wire Rod Plant and the suspension of operations at Hyundai Steel's 2nd Plant. Photo by Pohang City

The meeting was attended by Mayor Lee Kang-deok, City Council Chairman Kim Il-man, Chamber of Commerce Chairman Na Ju-young, Pohang Steel Management Corporation Director Jeon Ik-hyun, representatives from POSCO, Hyundai Steel, Dongkuk Steel, SeAH Steel, heads of major financial institutions, Director Kim Heon-deok of POMIA, and Director Bae Young-ho of Pohang Technopark.

The attendees expressed deep concern about the impact of the suspension of operations at Pohang’s major steel companies, including Pohang Steelworks 1st Wire Rod Plant and Hyundai Steel Plant 2, on the local community, and shared various opinions to seek solutions.

To overcome the crisis in Pohang’s key steel industry, related organizations agreed to request the government to prepare an “Emergency Measures to Overcome the Steel Industry Crisis,” including government subsidies, domestic quota systems, electricity rate reductions, and expedited handling of anti-dumping complaints on Chinese hot plates.

They also strongly urged the government to extend the special support area for small and medium-sized enterprises and designate special industrial crisis response zones, and plan to actively respond together with the local community to minimize employment instability and economic damage.

Mayor Lee Kang-deok stated, “As the local key industry, the steel industry, faces difficulties due to internal and external conditions, prompt government measures are urgently needed. We will focus all administrative efforts on preparing countermeasures by fostering a sense of community, strengthening communication with citizens and the local community, and establishing a close cooperative system with related organizations to wisely overcome this crisis.”

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