[SBS News Story] 'Crisis of Steel'…

2025-02-08 07:41:04

The roots of the Pohang economy are shaking

As the steel industry, which accounts for 70 % of the Pohang industry, faced an unprecedented crisis, the local economy was also seriously stagnant.

The utilization rate of Steel Industrial Equipment, which was nearly 90%during the boom, fell to 67%last year.

The aftermath is spreading like a domino throughout Pohang City, shaking the roots of the Pohang economy.

In particular, as in the case of Pittsburgh, the US, as a case of transforming into a high -tech IT city after the steel industry decline, Pohang's focus on the steel industry, which is the flagship of the steel industry, is highly needed to establish a differentiation strategy to attract new industries that meet local characteristics.

 

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