The historic furnace has been operating since 1973 and has produced more than 55 million metric tons. The Pohang furnace was Korea’s first integrated mill, and supported different facets of the country’s manufacturing industry. The No. 1 blast furnace supported the shipbuilding, automotive and electronics sectors, according to The Korea Herald.

The company said they will also consider closing or renovating their second-oldest No. 2 blast furnace — which has been in operation since 1976 — as early as 2025.

The Korea Herald has more here.