POSCO, South Korea's leading steelmaker, introduced its pioneering low-carbon steel brand, Greenate, on Sunday. Greenate encompasses a range of distribution-type products that have undergone certification by a reputable institution, demonstrating their reduced CO2 emissions through environmentally friendly production processes, which has been recognized by eco-conscious customers.
While global steel manufacturers in Europe and Japan had already adopted low-carbon distribution-type products with emission-cutting capabilities for specific steel materials in 2021, POSCO is the first to do so in South Korea.
The calculation of CO2 emissions and reductions followed the widely used international standard, the Greenhouse Gas Protocol, with verification conducted by DNV UK, one of the world's top three certification bodies.
POSCO's efforts to increase the usage of pellets in blast furnaces and scrap metal in converters resulted in the reduction of 590,000 tons of CO2 emissions from January to August last year. Pellets are processed raw materials formed into balls after crushing and sorting iron ore. The greater use of pellets decreases the required amount of iron ore, thus reducing the consumption of fossil fuels during the processing stages before feeding the iron ore into blast furnaces.
LG Electronics Inc. became the first recipient of Greenate's low-carbon product, receiving a shipment of 200 tons of steel products for use in dryer parts and materials. POSCO plans to expand the supply of low-carbon steel products for household appliances.
Additionally, Samsung Electronics Co. is considering the preferential use of low-carbon steel in its premium ovens. POSCO recently signed a groundbreaking three-year supply contract with the electronics giant, providing steel products for home appliances and electrical sheets.
As part of its commitment to carbon neutrality by 2050, POSCO presented its roadmap for achieving this goal and introduced a line of low-carbon products to its major domestic clients at the POSCO Center in Seoul. The company aims to upgrade its operational technology to directly produce molten steel in blast furnaces from 2026 by constructing new electric-powered furnaces or blending molten steel with iron produced in converters.
By 2030, POSCO plans to complete the development of commercial technology, including its HyREX (hydrogen reduction) steelmaking process, a hydrogen-based technology that significantly reduces CO2 emissions by replacing coal and other fossil fuels. A test facility for HyREX is set to be completed in 2026, followed by the phased implementation of this innovative technology across POSCO's plants.
Vietnam Steel by Hoa Sen Group