Yonhap reported that South Korea’s Ministry of Trade, Industry & Energy will run a task force to support steelmakers with post-typhoon recovery work and to check the supply situation of steel products to minimize damage by Typhoon Hinnamnor. The task force will hold its first meeting later in the day with the steelmakers, their association and state-run trade entities to share information on the extent of damage and the current situation, and assess their impact on exports and other businesses First Industry Minister Mr Jang Young-jin said “The steel industry in Pohang suffered a very serious, nearly unprecedented level of damage and the full recovery of those facilities is likely to take a long time, with a hot rolling factory not to be put into normal operations for up to six months. There wouldn't be an immediate problem with supply thanks to sufficient inventory. But some items are produced only in the Pohang region and necessary steps will need to be taken in consultation with companies.” Last week, the typhoon hit the southern part of Korea and affected steelmaking facilities run by major companies, including POSCO and Hyundai Steel. POSCO halted blast furnaces at its main steel mill in Pohang for the first time in its half-century history. Some Hyundai Steel facilities at its Pohang factory were also damaged by the flooding.
Yonhap reported that South Korea’s Ministry of Trade, Industry & Energy will run a task force to support steelmakers with post-typhoon recovery work and to check the supply situation of steel products to minimize damage by Typhoon Hinnamnor. The task force will hold its first meeting later in the day with the steelmakers, their association and state-run trade entities to share information on the extent of damage and the current situation, and assess their impact on exports and other businesses First Industry Minister Mr Jang Young-jin said “The steel industry in Pohang suffered a very serious, nearly unprecedented level of damage and the full recovery of those facilities is likely to take a long time, with a hot rolling factory not to be put into normal operations for up to six months. There wouldn't be an immediate problem with supply thanks to sufficient inventory. But some items are produced only in the Pohang region and necessary steps will need to be taken in consultation with companies.” Last week, the typhoon hit the southern part of Korea and affected steelmaking facilities run by major companies, including POSCO and Hyundai Steel. POSCO halted blast furnaces at its main steel mill in Pohang for the first time in its half-century history. Some Hyundai Steel facilities at its Pohang factory were also damaged by the flooding.
