South Korea's largest steelmaker POSCO has cost KRW 220 billion to upgrade the blast furnace of its Gwangyang steel mill to increase productivity.

POSCO will not only improve the furnace's productivity through modernization but also reduce heat loss and gas emissions. It was expected to complete the upgrade process by July 2022 and start the blast furnace in the same year.

In addition, POSCO also carried out overhaul works on the No. 3 furnace in the Gwangyang steel mill, which was scheduled to be finished by the end of June.