Gwangyang City Council Urges Designation as Steel Industry Crisis Response Area

"The Government Must Enact a 'Special Act to Support the Steel Industry'"

The Gwangyang City Council in South Jeolla Province (Chairperson Choi Daewon) officially adopted the "Statement Urging the Designation of Industrial Crisis Response Areas to Overcome the Steel Industry Crisis" through a plenary session on the 16th, calling on the government and related agencies for urgent measures to protect the steel industry and stabilize the local economy.

In the statement, the council emphasized, "Gwangyang, centered around POSCO Gwangyang Steelworks, is a leading city in the domestic steel industry. The steel ecosystem serves as a core pillar of national key industries and is central to the local economy." The council also stated, "Recently, the steel industry has been facing an unprecedented crisis due to the deterioration of external conditions, including tariff policies under the Trump administration, aggressive low-price strategies from China, and the depreciation of the Japanese yen."

On the 16th, the Gwangyang City Council officially adopted the "Statement Urging the Designation of Industrial Crisis Response Areas to Overcome the Crisis in the Steel Industry" through a plenary session, calling on the government and related agencies for urgent measures to protect the steel industry and stabilize the local economy. Provided by Gwangyang City Council

The council further explained, "South Jeolla Province accounts for 34.4% of the nation's steel production, and Gwangyang, where more than 220 steel-related companies are concentrated, is taking a direct hit from the industrial downturn." The council added, "The negative ripple effects, such as management difficulties, job insecurity, and decreased sales, are spreading throughout the region, impacting not only large corporations but also small and medium-sized partner companies and small business owners."

Through the statement, the Gwangyang City Council strongly urged the prompt designation of Gwangyang as an 'Industrial Crisis Response Area' and the enactment of a 'Special Act to Support the Steel Industry' that includes comprehensive government-level support. The council made it clear that it will mobilize all available resources to protect and revitalize the steel industry.