Posco Group said Thursday that it was ready to resume the operation of its blast furnace No. 4 in Pohang, North Gyeongsang Province, at the end of June after months of refurbishment work.

A blast furnace usually undergoes maintenance every 15 years, during which its operation is suspended to undergo thorough performance and safety checkups and facility upgrades.

The No. 4 furnace, completed in 1981, underwent refurbishments in 1994 and 2010. The current third refurbishment started on Feb. 23 to improve the performance of the production system and enhance safety. A smart furnace system based on big data and artificial intelligence has also been implemented.

Posco has invested about 530 billion won ($38.87 million) over the past decades of maintenance work. The company said the whole process will contribute to boosting the local economy and creating new jobs.

On April 29, the company held a ceremony to celebrate the completion of the third maintenance work, with its top executives in attendance.

"After the third maintenance work, the blast furnace No. 4 will once again resonate vigorously. Moving forward, we will remain committed to gathering trust from local communities and the public through continued development and growth," Posco Group Chairman Chang In-wha said during the event.