Korean Companies in China Complain About Strict Electricity Restrictions

Business men talk at a lobby of the headquarters of POSCO, the world's fifth largest steel maker, in Seoul, on March 9, 2006. Jung Yeon-je/AFP via Getty Images

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.