Korean companies in China have encountered operational difficulties due to strict power use restrictions. For these companies, a Korean expert says, it is useless to plead with Chinese authorities, regardless of the losses they suffer from the policy. Pohang Iron and Steel Co. Ltd (POSCO), a Korean steel giant, recently told the Yonhap News Agency in Seoul that its stainless steel plant in Zhangjiagang city, Jiangsu Province, restarted in early October, with the operation rate maintaining at 80 percent. The plant was compelled to shut down by the local power restrictions in late September. The power supply has not been completely cut off, citing a source the news agency, but as the local authority’s grip on electricity use for the day, the enterprise is limited to operate at night only. The report says that most of the Korean companies experience difficulty in talking about the situation over concerns in maintaining …
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