EcoPro Group, Pohang Plant's Second Half Recruitment Postponed to Next Year's First Half

EcoPro Group has postponed its hiring plans for the Pohang plant in the second half of this year, considering the business conditions such as the sluggish market due to the slowdown in the electric vehicle market growth.

According to industry sources on the 30th, EcoPro Group announced the day before that it would adjust the recruitment schedule for new and experienced production workers to work at the Pohang campus to the first half of next year.

This decision is said to reflect the increased management uncertainties, including decreased profitability due to weak demand in the electric vehicle and battery industries and falling mineral prices, leading to efforts to reduce costs.

In the third quarter of this year, EcoPro's operating profit was recorded at 65 billion KRW, down 69.3% compared to the same period last year. Its affiliate EcoPro BM's operating profit decreased by 67.6% to 45.9 billion KRW, and EcoPro HN recorded 11.5 billion KRW, down 11.8%.