[THE INVESTOR] Hyundai Steel Co. is not reviewing plans to build another furnace at its Dangjin Steel Mill, the company said June 15.

A local daily had reported that the company was reviewing plans to build another furnace, and that the plans could be put into action within two or three years. Citing unnamed Hyundai Steel officials, the report claimed that the related plans were under review due to the maintenance needs of the existing three furnaces.


An official with the company’s public relations department said that the report is groundless and that the furnace that has experienced problems will be fully operational by the end of the month.

Located in Dangjin, South Chungcheong Province, the Dangjin mill currently operates three furnaces with a combined production capacity of 12 million metric tons. However, the furnace that began operations in January 2010 has been experiencing problems with temperature maintenance since last month. 

By Choi He-suk (cheesuk@heraldcorp.com)