Notables attend the Iron Day anniversary event at POSCO Center on June 10. They include Minister of Trade, 

Industry and Energy Yoon Sang-jick; Chairman Chung Joon-yang of the Korea Iron & Steel Association (KOSA); 

KOSA Vice Chairman Oh Il-hwan; Hyundai Steel Vice Chairman Park Seung-ha; Dongkuk Steel Mill 

Chairman Jang Se-joo; Dongbu Steel Vice Chairman Lee Jong-keun; SeAh Steel Chairman Lee Soon-hyung; 

KISWire Co. Chairman Hong Young-chul; TCC Steel Corp. Chairman Sohn Bong-rok; and POSTECH Chairman

 Kim Yong-min.  [Photo on courtesy of KOSA] 

    Korean steelmakers have pledged to join in a nationwide drive to cope with an emerging power shortage crisis.

Chairman Chung Joon-yang of the Korea Iron & Steel Association (KOSA) said, “The Korean steelmaking industry will lead in cutting down on more than 1 million kW, an equivalent to that of a nuclear power unit, on a daily average basis and coping with a power shortage crisis by concentrating equipment maintenance and summer vacation and maximizing the operation of commercial generators for August when a power shortage contingency is feared.” Chairman Chung made the remarks at a ceremony to mark the 14th anniversary of Iron Day at POSCO Center in Seoul on June 10.

Among those on hand at the ceremony were Minister of Trade, Industry and Energy (MOTIE) Yoon Sang-jick; KOSA Chairman Chung; KOSA Vice Chairman Oh Il-hwan; Hyundai Steel Vice Chairman Park Seung-ha; Dongkuk Steel Mill Chairman Jang Se-joo; Dongbu Steel Vice Chairman Lee Jong-keun; SeAh Steel Chairman Lee Soon-hyung; KISWire Co. Chairman Hong Young-chul; TCC Steel Corp. Chairman Sohn Bong-rok; and POSTECH Chairman Kim Yong-min. 

KOSA Chairman Chung called for steelmakers to make concerted efforts to overcome the difficult times facing the Korean steel industry caused by the slumping of the shipbuilding and construction industries, the biggest consumers of steel products, and an electricity shortage, caused by the suspension of a few nuclear power units.  

Hyundai Steel Vice Chairman Park Seung-ha also appealed for the Korean steel industry’s participation in a drive to conserve electricity. 

MOTIE Minister Yoon extended a thank-you for the Korean steel industry’s pledge to conserve 1 million kW of electricity for August, and noted that whether the nation can tide over the power shortage crisis depends on the Korean steel industry, which accounts for 10 percent of the nation’s total power demand. 

During the ceremony, the Order of Industrial Service, Silver Tower, went to HiSteel President Um Jung-keun. Dongbu Steel Vice President Lee Duk-jae was honored with the Order of Industrial Service, Bronze Tower, while Hyundai Steel Executive Director Lee Gye-young was awarded the Industrial Service Medal. 

Kim Sun-koo, a group leader at POSCO, and Ha Sang-soo, the head of a trade union branch at Dongkuk Steel, each received the Presidential Award, while Kim Dong-gyun, of Union Steel, was awarded the Prime Minister’s Award. 

In a related development, a report released by KOSA showed that the Korean steel industry supplied huge amounts of steel, equivalent to 40 million medium-sized passenger cars and 3,000 ships for the past 10 years, serving the role of a key industry by contributing to the development of the automobiles and shipbuilding industries. 

The total shipments of steel made in Korea and abroad for the last decade stood at 681.97 million tons. Domestic demand accounted for 505.08 million tons or 68.3 percent, while exports amounted to 176.89 million tons or 31.8 percent.