POSCO aims to restart stalled furnaces in Pohang on Saturday
SEOUL, Sept. 8 (Yonhap) -- POSCO, South Korea's top steelmaker, said Thursday it aims to restart stalled furnaces in Pohang this weekend, which have remained shuttered due to damage from Typhoon Hinnamnor.
POSCO suspended operations of three blast furnaces in Pohang, an industrial city located 272 kilometers southeast of Seoul, as the typhoon caused flooding of power supply stations and other related facilities earlier this week.
The steelmaker said it will begin restarting the furnaces Saturday in stages.
POSCO's Pohang steelworks generated 18.49 trillion won (US$13.39 billion) in sales last year, accounting for some 24 percent of the group's total.
POSCO said it will increase production at five blast furnaces in Gwangyang, about 300 kilometers south of Seoul. None of the furnaces in Gwangyang were affected by the typhoon.
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