【SMM Steel】Pohang steel unions warn of industry crisis

Published: Apr 14, 2026 16:13

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【SMM Steel】Unions representing POSCO and Hyundai Steel warned of a structural crisis facing the steel industry in Pohang. The sector is under pressure from global supply chain disruptions, low-priced steel imports, rising carbon transition costs, and increasing industrial electricity prices. These challenges are eroding competitiveness and threatening tens of thousands of jobs. Unions called for urgent action, including lower electricity costs and expanded direct power purchase mechanisms.

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