Implementing 'Green Steel'... Comprehensive Drive for 'Eco-friendly Management'
A commemorative photo of Hyundai Steel and the Korea Institute of Energy Research signing a business agreement for carbon neutrality technology cooperation. From the left, Andong-il, President of Hyundai Steel, and Kim Jong-nam, Director of KIER. (Photo by Hyundai Steel)
[Asia Economy Reporter Moon Chaeseok] Hyundai Steel is driving comprehensive eco-friendly management efforts, ranging from carbon capture technology to the utilization of waste resources.
A notable development is the comprehensive technology cooperation agreement signed last month on the 20th with the Korea Institute of Energy Research. The two parties have agreed to collaborate on 'CCUS (Carbon Capture, Utilization, and Storage)’, hydrogen production, and energy efficiency improvement technologies. Hyundai Steel plans to use the institute’s technology to enhance the performance of steel plant facilities and optimize operations. They are promoting the development of technologies necessary for producing 'green steel,' including hydrogen production, CCUS, and carbon-free combustion.
They are placing high hopes on developing 'blue hydrogen' production technology that doubles hydrogen output by altering the components within by-product gas. This represents an advanced area beyond the existing commercial technology that simply separates and purifies hydrogen. It is also expected to accelerate securing technology for producing large quantities of reduction hydrogen used in hydrogen reduction steelmaking. The institute’s CCUS-related technologies, such as carbon dioxide capture, will be actively reviewed for application in steelmaking processes. Andongil, CEO of Hyundai Steel, stated, "By cooperating with the Korea Institute of Energy Research, we plan to significantly enhance the level of energy and environmental demonstration technologies," adding, "Through diverse technological cooperation and active investment, we will take the lead in establishing a low-carbon environment in the steel industry."
Three days after the cooperation with the Korea Institute of Energy Research, Hyundai Steel signed a memorandum of understanding with the Korea Institute of Geoscience and Mineral Resources for 'collaboration on developing optimal utilization and operation technologies for steel plant raw materials.' This enables active adoption of the institute’s leading mineral resource technologies. They also plan to accelerate the development of technologies essential for realizing 'green steel,' such as carbon-neutral raw materials, resource recycling, and raw material analysis technologies.
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