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| POSCO's third blast furnace in Gwangyang, South Jeolla Province. Courtesy of POSCO |
Steelmaker POSCO has again pushed back the date to restart its third blast furnace due to the global recession sparked by the COVID-19 pandemic, a company official said Saturday.
The company had planned to resume operating the furnace in Gwangyang, 420 kilometers southwest of Seoul, in late May following repair and maintenance work, but delayed firing it up until the end of June.
The company, now however, says no decision has been made on when it will resume its operation..
The move comes as demand from automakers, construction companies and shipbuilders continues to decline due to the coronavirus pandemic.
POSCO has five blast furnaces in Gwangyang and four in Pohang, 375 kilometers southeast of the capital, eight of which are up and running.
It said 18,000 employees began taking paid leave June 16, though it declined to elaborate. (Yonhap)
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