POSCO suspends partial production lines
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Update time : 2020-06-17 12:26:16
As the COVID-19 epidemic caused weak order conditions, POSCO suspended partial production line and made some employees paid leave with 70% of the original salary. POSCO mentioned that it had no plan to lay off employees at current stage.
On the other hand, POSCO postponed the plan which was originally schemed to restart blast furnace located in Gwangyang city in May due to equipment repair and maintenance. Not only the consumptions of automobile producers, shipbuilding, and builders reduced but also steel raw material cost increased, causing the South Korean steel industry to face difficult operations.
POSCO didn't disclosure which production lines will be stopped, but experts believed that cold-rolled plate and electroplating production lines might be suspended due to the products mainly supplied to automobile manufacturers and home appliance manufacturers.
