POSCO delays resumption of furnace operation over weak demand
SEOUL, June 8 (Yonhap) -- South Korean steelmaker POSCO has delayed the resumption of the operation of one out of nine blast furnaces in the country due to slow demand amid the spreading novel coronavirus, a company official said Monday.
POSCO had planned to resume the operation of a blast furnace in Gwangyang, about 420 kilometers southwest of Seoul, in late May following its repair and maintenance work, but it pushed back the resumption date to the end of June, a company official said.
The move came as coronavirus pandemic has led to a sharp decline in global steel demand.
POSCO said some of its idle employees are set to begin taking unpaid leave on June 16.
POSCO has five blast furnaces in Gwangyang and four blast furnaces in Pohang, about 375 kilometers southeast of Seoul.
entropy@yna.co.kr
(END)
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
Ateez to drop new Japanese EP next week
-
(2nd LD) N. Korea still unresponsive to S. Korea's outreach for talks on COVID-19: official
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
Hyundai Motor to invest US$5 bln in U.S. for robotics, autonomous driving development
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(5th LD) Yoon, Biden agree to expand joint military exercises to cope with N.K. threats
-
(LEAD) Yoon, PPP lawmakers travel to Gwangju en masse to commemorate 1980 democracy uprising
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(LEAD) Biden set to arrive in S. Korea for first summit with Yoon
-
Chinese people purchase nearly 7,000 buildings in S. Korea in 2021
-
Biden says he and Yoon 'married up'
-
With historic Golden Boot, Son Heung-min cements case as greatest S. Korean footballer ever
-
U.S. not considering adding S. Korea to Quad: official
-
(2nd LD) Yoon, Biden tout alliance during visit to Air Force operations center