The “People Making Happy Pohang” group, led by Park Je-seo, displayed 15 banners supporting POSCO and five supporting Hyundai Steel. (Image courtesy of The “People Making Happy Pohang” group)
POHANG, Nov. 18 (Korea Bizwire) – A civic organization in Pohang, North Gyeongsang Province, has launched a public campaign to boost morale at local steel companies, hanging 20 encouraging banners across the city on November 16.
The “People Making Happy Pohang” group, led by Park Je-seo, displayed 15 banners supporting POSCO and five supporting Hyundai Steel, acknowledging the crucial role these companies play in the local economy.
“The steel industry’s downturn directly affects Pohang’s prosperity,” the organization explained in a statement. “We wanted to show citizens’ support for local companies like POSCO and Hyundai Steel during these challenging times.”
The group emphasized that Korean steel companies have been fighting an uphill battle, competing with quality and technology against market disruption caused by low-priced Chinese products. They also noted that recent setbacks, including a fire at POSCO’s FINEX plant and the announced closure of Hyundai Steel’s Pohang Plant No. 2, have added to the community’s concerns, especially as the city is still recovering from damage caused by Typhoon Hinnamnor in 2022.
Im Young-sook, the organization’s secretary-general, said more local groups are expected to join the banner campaign next week, expanding the show of support for the steel industry.
M. H. Lee (mhlee@koreabizwire.com)
