Na Ju Young, President of Pohang Chamber of Commerce and Industry: "Chinese Low-Price Offensive and U.S. Trade Pressure Threaten Steel Industry"

Request for Support to Prime Minister Kim Min Seok on January 23
Democratic Party’s Lim Mi Ae Visits Pohang Chamber of Commerce and Industry

Democratic Party lawmaker Lim Mi Ae, who also serves as the Gyeongbuk Provincial Party Chairperson, visited the Pohang Chamber of Commerce and Industry (President Na Ju Young) on January 8. During her visit, she expressed her gratitude for the efforts made during the passage of the K-Steel Act in the National Assembly plenary session last year, the designation of Pohang as a Preemptive Industrial Crisis Response Area, and the process of designating it as a Preemptive Employment Crisis Response Area. She also discussed the Chamber’s practical role in revitalizing Pohang’s economy.

Pohang was designated as a Preemptive Industrial Crisis Response Area in August last year, followed by its designation as a Preemptive Employment Crisis Response Area. On November 27, 2025, the “Special Act on Strengthening the Competitiveness of the Steel Industry and Transition to Carbon Neutrality,” commonly known as the “K-Steel Act,” was passed. These developments have provided an opportunity to overcome the severe employment crisis caused by global trade barriers, oversupply, and stagnation in the steel industry.

Democratic Party lawmaker Mi Ae Lim (third from left) is visiting Pohang Chamber of Commerce and taking a commemorative photo with senior staff.

During a meeting with Na Ju Young, President of the Pohang Chamber of Commerce and Industry, the Secretary-General, and other executives, Lim Mi Ae said, “I am well aware of how much the business community in Pohang has worked to overcome the crisis in the domestic steel industry. You requested the K-Steel Act and the designation as a Preemptive Industrial Crisis Response Area early on, and seeing you join forces with the chambers of commerce in Gwangyang and Dangjin to submit a petition to the government made me feel very reassured about Pohang’s entrepreneurs.” She expressed her gratitude for their efforts.

She went on to say, “Both the Lee Jae Myung administration and the Democratic Party supported these efforts by passing the K-Steel Act in the National Assembly plenary session and designating Pohang as a Preemptive Industrial Crisis Response Area and later as a Preemptive Employment Crisis Response Area. As a member of the Budget and Accounts Committee, I also secured substantial funding for new growth engines in Pohang, including the construction of the Pohang-Yeongdeok Expressway, secondary compensation support for local industrial crisis response, and the establishment of an AI convergence demonstration hub.”

Na Ju Young, President of the Pohang Chamber of Commerce and Industry, stated, “China continues its low-price offensive based on low energy and labor costs, while the U.S. trade pressure is pushing the steel industry into crisis. We must quickly devise measures to support electricity rates to reduce the burden of energy costs.”

The Pohang Chamber of Commerce and Industry plans to attend the National Policy Briefing by Prime Minister Kim Min Seok, which will be held at 4 p.m. on January 23 at Daejam Hall, Munhwa-dong, Pohang City Hall. At the event, the Chamber will present the current issues facing Pohang’s business community and propose ways for regional economic development to be reflected in national policy.