The restart timeline for POSCO’s stainless steel plant in Pohang, South Korea, is now uncertain following two major industrial accidents within two weeks.

On November 20, six workers, including subcontractors and POSCO employees, fainted after a suspected gas leak, possibly carbon monoxide, during pipe sludge cleaning. This incident came just weeks after a fatal chemical leak on November 5, which killed one subcontractor and injured three.

These recurring incidents have prompted the police and labor ministry to conduct a thorough investigation into the company's safety procedures.

As POSCO is a global stainless steel producer, especially of high-value 300 and 400 series, the extended shutdown of its 2 million-ton capacity is intensifying global supply tightness and price volatility concerns for stainless steel products.