Hyundai Steel has announced plans to close an underutilized sections production facility at its Pohang plant due to declining demand in the construction sector and increased competition from low-priced steel imports, particularly from China. The company informed employees of its intention to halt operations at the No. 2 factory, which has been operating at only 10-20% capacity. While the final decision will be made after discussions with union leaders, the move reflects ongoing challenges in the steel industry, including a significant drop in Hyundai Steel's third-quarter profits.