ID :
183714
Mon, 05/23/2011 - 05:23
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Shortlink :
https://oananews.org//node/183714
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Korea, Japan steelmakers to boost cooperation following quake
SEOUL (Yonhap) - South Korean and Japanese steelmakers plan to work together to cope with the fallout from the massive earthquake that hit the island nation in March, the government said Monday.
The Ministry of Knowledge Economy said government and business representatives from the two countries gathered in Seoul to discuss ways to limit the negative impact of supply disruptions in Japan.
The record quake and tsunami has affected a quarter of Japan's steel production and disrupted other industries such as autos and shipbuilding, fueling concerns over excessive competition and price cutting by steel mills, which can hurt all producers.
Representatives from the two countries also concurred on the need to prevent unfair practices in the stainless steel area that is experiencing over production problems, the ministry said.
Total production of stainless steel reached 30.68 million tons in 2010, up 25 percent from the previous year.
Other issues discussed include technology cooperation to reduce greenhouse gases released by steel mills in the two countries. Greenhouse gases released from South Korean steel mills account for 13 percent of the country's total emissions, while making up 15 percent of output in Japan.
The ministry, meanwhile, said close to 50 government officials and executives from steel mills from the two countries were present at the one-day conference, including executives from POSCO, Hyundai Steel and Nippon Steel Corp.
The Ministry of Knowledge Economy said government and business representatives from the two countries gathered in Seoul to discuss ways to limit the negative impact of supply disruptions in Japan.
The record quake and tsunami has affected a quarter of Japan's steel production and disrupted other industries such as autos and shipbuilding, fueling concerns over excessive competition and price cutting by steel mills, which can hurt all producers.
Representatives from the two countries also concurred on the need to prevent unfair practices in the stainless steel area that is experiencing over production problems, the ministry said.
Total production of stainless steel reached 30.68 million tons in 2010, up 25 percent from the previous year.
Other issues discussed include technology cooperation to reduce greenhouse gases released by steel mills in the two countries. Greenhouse gases released from South Korean steel mills account for 13 percent of the country's total emissions, while making up 15 percent of output in Japan.
The ministry, meanwhile, said close to 50 government officials and executives from steel mills from the two countries were present at the one-day conference, including executives from POSCO, Hyundai Steel and Nippon Steel Corp.
