Hyundai Steel Wins First Award at World Steel Association's 'Steelie Awards'

Named Top Company in the Life Cycle Assessment Category
Improved Method for Calculating Carbon Emissions from Steel Products
Joint Research with Inha University... Enhanced Assessment Reliability

Hyundai Steel has won an award for the first time at the Steelie Awards, hosted by the World Steel Association.

Hyundai Steel President Lee Boryong (left) receives the Best Company Award in the LCA (Life Cycle Assessment) category of the Steely Awards from World Steel Association Vice Chairman T. V. Narendran at the association's annual event in New Delhi, India, on the 12th (local time). Hyundai Steel

Hyundai Steel announced on October 15 that it had been named the top company in the Life Cycle Assessment (LCA) category at the World Steel Association's annual event held in New Delhi, India, on October 12 (local time).

The Steelie Awards are an annual ceremony at which the World Steel Association recognizes outstanding practices by member companies that have contributed to the development of the steel industry. Awards are presented in six categories, including clean steel production, process and product innovation, sustainability, and life cycle assessment.

Hyundai Steel was recognized for improving its assessment methods to enable more accurate and consistent comparisons of carbon emissions from steel products. In particular, it proposed a way to address the issue of environmental impacts from byproduct gases generated during steel production being assessed differently depending on calculation criteria or business structures.

To this end, Hyundai Steel conducted a three-year joint study with Inha University starting in 2023. The study analyzed more than 24 scenarios to calculate the environmental impacts and carbon emissions associated with the combustion of byproduct gases, and developed a method to reduce variations in assessment results.

The research findings were also used to obtain overseas Environmental Product Declaration (EPD) certification for blast furnace-produced products. An EPD is a system that quantifies and discloses the environmental impacts of a product throughout its life cycle, from raw material extraction to production, distribution, use, and disposal.

A Hyundai Steel official said, "The global steel industry gave us favorable recognition for contributing to the reliability of environmental impact assessments for steel products. We will continue our efforts to provide reliable information."

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