Lee Gang-deok, mayor of Pohang, North Gyeongsang Province, recently submitted a plea to the government requesting a response to overcome the crisis in the steel and secondary battery industries.
On the 9th, Pohang announced that in the plea submitted by Mayor Lee to the Ministry of Trade, Industry and Energy, he noted, “Since the U.S. suddenly increased tariffs on steel and aluminum products to 50% from June 4, the domestic steel industry is facing a desperate survival crisis,” and added, “An additional increase in tariffs, which follows the already significant impact of a 25% tariff, is a direct hit to exports and a matter that shakes the foundation of national manufacturing.”
Regarding the secondary battery industry, he stated, “The demand for electric vehicles is slowing down, China is engaging in aggressive low-priced tactics, and a decline in exports is worsening the revenue of the materials industry,” and emphasized, “We are facing a national crisis situation where both the steel and secondary battery core industries are shaking at the same time.”
He requested the designation of a crisis response area, the enactment of the 'Special Support Act for the Steel Industry' and the 'Special Support Act for the Secondary Battery Industry,' appealing for national-level support.
Mayor Lee said, “The Pohang crisis is not just a problem for Pohang alone, but a crisis for the competitiveness of Korea's manufacturing industry,” and emphasized, “It is crucial for the government to provide proactive and comprehensive support immediately to protect the national industrial foundation.”