"Hydrogen-Based Iron" Brings Together Global Steel Experts' Technology Development Capabilities

by Choi Daeyul

Published 29 Sep.2021 14:54(KST)

On the 8th, at the Hydrogen Mobility+ Show, Choi Jung-woo, Chairman of POSCO Group, is touring the exhibition hall.

[Asia Economy Reporter Choi Dae-yeol] A gathering of major global steel companies, associations, and institutions to exchange trends and technological status of hydrogen reduction steelmaking will be held next month. Hydrogen reduction steelmaking is a technology that uses hydrogen instead of coal when making iron from iron ore, producing almost no carbon emissions, and is considered a next-generation steelmaking technology.

POSCO held a press briefing on the 29th to explain the ‘HyIS (Hydrogen Iron & Steel Making Forum) 2021’ international forum, which will be held both online and offline for three days starting from the 6th of next month. Kim Hak-dong, CEO of POSCO, said, "The core of carbon neutrality in the steel industry is hydrogen reduction steelmaking, which uses hydrogen as a reducing agent instead of carbon. However, since this technology has not yet been realized, it requires enormous costs and time for individual steel companies to develop it."

He continued, "Joint cooperation is essential to realize hydrogen reduction steelmaking," adding, "We proposed technology and information exchange through the World Steel Association, and after about a year and a half of discussions, we are holding this forum for the first time."

The steel industry is considered a representative carbon-emitting sector. In South Korea, about 17% of total emissions come from the steel industry alone. As the entire society, including the industrial sector, is working toward carbon neutrality by 2050, all steel companies including POSCO inevitably bear a heavy responsibility.

POSCO has been dedicated to developing related technologies early on for the transition to a low-carbon society. In the same context, Chairman Choi Jeong-woo of the POSCO Group raised the topic of joint development of hydrogen reduction steelmaking technology to steelmakers worldwide in April last year. Chairman Choi requested, "Let us share POSCO’s ‘Carbon-Free’ steelmaking technology strategy and promote joint development of hydrogen reduction steelmaking technology with steelmakers around the world."

In September of the same year, the forum was confirmed by a vote of the World Steel Association member companies. POSCO formed a TFT consisting of in-house technology researchers, the international cooperation group, and overseas subsidiaries in December, and has been preparing the forum by sending invitations to about 100 member companies including the World Steel Association. The event next month will include 10 steel companies such as ArcelorMittal, the largest steelmaker in Europe, and Nippon Steel from Japan, as well as three steel associations from Europe and China. According to POSCO, a total of 29 organizations have expressed their intention to participate, including three raw material companies such as BHP and Vale, two hydrogen-related companies such as Air Liquide, and five engineering companies such as SMS.

At this forum, POSCO will unveil the HyREX technology based on the FINEX fluidized reduction furnace and promote global joint development with steelmakers and related industries in the form of an open platform for hydrogen reduction steelmaking technology. The company stated, "Through this event, we plan to propose an agenda for realizing carbon neutrality to steelmakers worldwide in line with the ESG (Environmental, Social, and Governance) trend and jointly find new solutions to lead the global green steel era."