The cold rolling mills at Dangjin Steel Works in South Chungcheong Province will be shut down by Hyundai Steel for a two-week period. The supply of hot-rolled steel needed to make cold-rolled steel has been hampered by the labor union's strike.
From October 12 at 7 a.m. to October 26 at 7 a.m., Hyundai Steel will shut down its Dangjin Works Cold Steel Mills 1 and 2 for two weeks. The steelmaker makes hot-rolled steel, but due to worker unrest at its hot steel mills, the business has been forced to close its cold steel factories as well.
On September 24, the four KCTU-affiliated labor unions employed by the corporation went on strike in support of combined wage and collective bargaining discussions for 2022. Since the beginning of October, the unions' strike has grown to include the hot steel mills in addition to the thick steel plate and special steel factories at Dangjin Works.
Concerns over Korea's steel supply are intensifying as a result of Hyundai Steel's decision to close the factories. The South Jeolla Province location of Hyundai Steel is in Suncheon and is not a part of the strike, but from October 16 to October 24 a significant repair to its cold steel manufacturing line is planned.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only