Korea Registers Record High of Crude Steel Production Last Year
- Retains the fifth largest steel-producing position with 47.52 million crude steel

Korea posted a record high of 47,521,00 tons of crude steel production last year, according to figures released by the Korea Iron &Steel Association (KISA).
KISA said in a news release on Jan. 18 the figure represents a 2.6 percent year-on-year increase over 2003, and Korea placed fifth in terms of crude steel production following China, Japan, the United States and Russia.
The record-high crude steel production was partly attributable to the fact that the Bessemer steel sector rose by 4.2 percent to 26,651,000 tons due to normal operations without repairs and improved productivity on the strength of a boom in such manufacturing industries as shipbuilding and automobiles. Despite a setback, caused by the sluggish construction industry and the closure of Korea Iron Steel Co.'s Masan plant, the electric steel sector rose 20,870,000 tons, up 0.7 percent over a year earlier, riding on an increase in stainless steel production by POSCO and resumption of the mini-mill of the Gwangyang Steelworks and a facility expansion by SeAh Besteel Corp.
The crude steel production for 2004 breaks down to 40,352,000 tons of normal steel, 84.9 percent of the total, and 7,169,000 tons of special steel, 15.1 percent.
Korea's crude steel production has been on a constant increase since 1981. The production was 10 million tons in 1981, 20 million tons in 1989, 30 million tons in 1993 and shattered the 40 million-ton mark in 1997. Korea joined the ranks of the top global six with 26 million tons in 1991, and the country edged up one notch to fifth place in terms of crude steel production by producing 45,390,000 of crude steel in 2002.
KISA held a New Year's meeting with about 200 people, including representatives from steel and other related industries at the Grand InterContinental Hotel on Jan. 14. The participants included Minister of Commerce, Industry and Energy Lee Hee-beom, POSCO Chairman-KISA Chairman Lee Ku-taek, Park Chan-mo, president of Pohang University of Science and Technology, Yoo Sang-boo, former KISA chairman, Hwang Kyung-ro, ex-KISA chairman, Ahn Byung-hwa, former MOCIE minister, Kim Moo-il, vice chairman of INI Steel, Kim Jeong-il, vice chairman of Dongbu Steel, Chun Kyung-doo, vice chairman of Dongkuk Steel and Shim Yoon-soo, vice chairman of KISA.
Meanwhile, a recent survey indicated that a majority of Korean people consider the steel industry as one of the nation's key industries and growth engines in the future.
The survey, conducted by Hangil Research at the request of KISA's steel publicity committee, showed that the general public showed affirmative views and have a good image toward the steel industry.
The findings of the survey, titled "The Study on Raising the Image of the Steel Industry and Publicity Strategies," reveled that 93.7 percent of the respondents said the steel industry contributes to the Korean economy. 90.7 percent said they see the industry as a future growth engine with only 9.0 percent replying that they consider the steel industry as a declining industry.
And 53.4 percent said they consider the steel industry as an environment-friendly one, higher than those with negative views.
The survey indicated that the steel industry has an affirmative image, but due to its strong image as the conventional industry, the steel industry, needs to publicize the industry as a futuristic, cutting-edge and environment-friendly industry.
According to the survey, women and men in their 20s showed their lack of understanding of the steel industry. nw