POSCO employees work at the company's main steel mill in Pohang, North Gyeongsang Province, in this June 2023 file photo. Courtesy of POSCO

Major steelmakers in Korea have tightened discipline among executives and reduced output to overcome difficulties caused by the global oversupply of steel products and domestic construction industry downturn, according to industry officials, Sunday.

POSCO asked its executives recently to return to a five-day workweek as before.

Earlier this year, the nation’s leading steelmaker allowed its non-shift employees, who are expected to work a minimum of 40 hours a week, to take a Friday off every two weeks if they have worked at least 80 hours during the previous nine weekdays.

The company denied speculation that it may force its non-executive employees to stop taking a Friday off every two weeks.

“We have made company-wide efforts to restore our competitiveness in the steelmaking industry,” a POSCO official said. “To 카지노 raise awareness of the crisis among our management, only our executives are obligated to return to the five-day workweek.”

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