Driven by rising production costs and shifting market demand, South Korea's major newsprint producer, Jeonju Paper, has recently announced that starting in June, its two factories will reduce newsprint output. In addition to regular equipment maintenance and routine upkeep, the company has decided to implement production cuts.
The decision comes as demand for newsprint remains weak in the Asian market, leading to declining profit margins and lower prices. As a result, both the Jeonju and Cheongju plants have agreed to cut production by approximately 50,000 tons. This reduction includes a 20,000-ton cut during the scheduled maintenance period and an additional 30,000-ton cut during the summer energy-saving and consumption-reduction phase.
The move is seen as a strategic response to current economic pressures and aims to balance supply with demand while maintaining operational efficiency. Industry analysts suggest that this could signal a broader trend in the paper sector, where companies are adjusting production levels to adapt to changing market conditions.
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