Hyundai Steel said Wednesday it will showcase its eco-friendly solutions at the Steel & Metal Korea 2023 exhibition, which takes place in Daegu on Oct. 11-13.
During the industry’s largest trade show, the company said, it aims to renew its commitment to a low-carbon future, electric blast furnace technologies and its carbon-neutral trajectory.
At the heart of the exhibition is the company's “Pathway to Green Steel" concept, charting Hyundai Steel's journey towards sustainability and its future ambitions. Visitors can gain insight into the company's carbon neutrality road map, the company's 70 years of evolution and its pioneering carbon-cutting technologies.
Earlier in April, Hyundai Steel revealed a road map for carbon neutrality, pledging to slash both direct and indirect emissions by 12 percent by 2030, with plans for a net-zero carbon footprint by 2050.
The company has declared to convert production at Dangjin Steel Mill facility into an electric furnace and shaft blast furnace combined process by 2030. The new transition aims to produce 5 million metric tons of low-carbon products annually.
The combined process will be implemented in two phases. The initial phase will see iron ore from the existing electric blast furnace incorporated into the blast furnace electrolysis process.
Subsequently, by 2030, Hyundai Steel aims to introduce a new electric furnace to manufacture steel, reducing carbon emissions by approximately 40 percent.
Underpinning these endeavors is Hyundai Steel's proprietary technology named Hy-Cube or Hy3, which stands for Hyundai Hydrogen Hybrid. This system, designed to minimize carbon emissions, employs a blend of iron scrap, carbon-neutral charcoal from blast furnaces, and direct reduced iron -- a method that leverages hydrogen instead of coal gas to extract oxygen from iron ore.
A spotlight will be cast on Hyundai Steel's application of their technology to Hyundai Motor’s compact SUV Kona. In September last year, the company introduced the world’s first low-carbon high-grade plate using an electric furnace that manages to curtail carbon emissions by over 30 percent in comparison to traditional blast furnaces. Boasting a high tensile strength of 1.0 gigapascal, it also allows for lighter, yet durable vehicle construction, enhancing fuel efficiency.
As part of their forward-looking strategy, Hyundai Steel will be showcasing three brands slated to guide its future: H-Core, a premium construction steel product brand; H-Solution, catering to automotive solutions; and HyECOSTeel, a low-carbon product production system.
H-Solution, launched in 2019, offers high-quality automotive materials, while the recently launched HyECOsteel emphasizes the company's shift to eco-friendly steel production.
The exhibition will also feature a retrospective on Hyundai Steel's 70-year history, starting as Korea's pioneering steelmaker in 1953. Key milestones, achievements and the company's contemporary vision will be detailed.
Other recent low-carbon innovations from the company include H-shaped steel with low-carbon product certification and automotive steel plates with a 30 percent carbon reduction. They are also in the process of developing low-carbon tire cord steel.