Posco was forced to shut its steel plant, including three furnaces in Pohang, on Sept. 6 after the plant was flooded due to the Typhoon Hinnamnor. Posco is estimated to have lost 2 trillion won in revenue and its subcontractors 250 billion won.
All three blast furnaces at Posco's Pohang steel mill resumed full operations Tuesday, a week after they were shut down due to flooding caused by Typhoon Hinnamnor.
The central government must establish a new disaster manual together with local governments across the country.
President Yoon Suk-yeol designated the southeastern cities of Pohang and Gyeongju in North Gyeongsang as disaster zones on Wednesday, a day after they were struck by Typhoon Hinnamnor.
President Yoon Suk-yeol on Wednesday traveled to Pohang in North Gyeongsang, one of the areas hardest hit by Typhoon Hinnamnor, and stressed his commitment to disaster relief and recovery efforts.
A very strong typhoon might land in Korea this week, less than a month after heavy rains caused massive flooding and at least 14 deaths.
Korea’s weather authority on Sunday predicted that rain clouds will form above Gangwon and eastern Gyeonggi early Monday morning and quickly move southward throughout Thursday morning.
Emergency assistance amounting to 6.7 billion won ($5.1 million) will be provided to areas severely damaged by the torrential rains that hit central regions such as Seoul and Gyeonggi, the Ministry of the Interior and Safety announced Friday.
One more person was found dead in the aftermath of floods in Seoul earlier this week, bringing the death toll due to the heavy rains to 13.
A body was found Thursday afternoon in a basement parking lot in Seocho District, southern Seoul, as record rains Monday led to heavy flooding in the areas, according to local press reports citing the police and fire departments.