Pohang City and Labor Groups Unite to Overcome Steel Industry Crisis and Stabilize Livelihoods

On the 13th, Pohang City reaffirmed its commitment to overcoming the crisis in the steel industry and revitalizing the sector together with executives of the Pohang branch of the Federation of Korean Trade Unions and representatives of steel company workers.

On the 13th, executives of the Pohang branch of the Korean Federation of Trade Unions, representatives of steel company workers, held a representative meeting at Tiffany Wedding Hall to reaffirm their determination to overcome the crisis in the steel industry and to achieve industrial revival, and took a group commemorative photo. Provided by Pohang City

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Mayor Lee Kang-deok met with about 70 people, including representatives of steel company workers within the Steel Management Complex and Jeong Sang-jun, chairman of the Pohang branch of the Federation of Korean Trade Unions, to share the impact of the local steel industry crisis on labor and the livelihood economy, and to discuss measures to overcome it.

The mayor explained the difficulties faced due to global steel oversupply and ultra-low price competition, and stated that he has repeatedly appealed to the government and the National Assembly for urgent measures to overcome the crisis in the steel and secondary battery industries.

He also explained that Pohang City submitted an extension application for the special support area for small and medium enterprises to the Ministry of SMEs and Startups at the end of last November, recently conducted an on-site inspection, and plans to strongly request designation as a special industrial crisis response area from the Ministry of Trade, Industry and Energy.

Furthermore, amid the significant contraction of the local commercial district due to the steel industry crisis and political situation, he expressed concern for small business owners struggling to survive in alley shops and markets, emphasizing that all administrative capabilities will be mobilized with the highest priority on stabilizing livelihoods and the local economy, including ▲ the establishment of a 200 billion KRW special guarantee fund for small business owners and ▲ the issuance of 200 billion KRW worth of Pohang Love Gift Certificates.

Mayor Lee Kang-deok said, “As an important pillar supporting the local economy, I sincerely thank the workers who sweat on the ground and protect Pohang,” and added, “Pohang City will also do its best to overcome the crisis by focusing administrative efforts on industrial diversification and improving living conditions for workers through cooperation with related organizations.”

Pohang City is making every effort to prepare support measures such as forming an industrial crisis response TF team and increasing the budget for small and medium steel companies to overcome the local steel industry crisis.

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