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POSCO Group Chairman Jeong-woo Choi Leads Technological Innovation for Carbon Neutrality in the Global Steel Industry


World Steel Association hosted Breakthrough Technology Conference in Abu Dhabi, UAE, for two days on Dec. 5-6.

Chairman Jeong-woo Choi emphasized technological innovation in a keynote speech: “Carbon neutrality in the steel industry will be achieved faster through joint R&D programs for low-carbon technology development.”

POSCO shared its carbon neutrality strategy, HyREX and Bridge technologies during the conference.

POSCO Group Chairman Jeong-woo Choi highlighted the need for collaboration and solidarity among member companies to accelerate technological innovation for achieving carbon neutrality at the first Breakthrough Technology Conference hosted by the World Steel Association in Abu Dhabi, UAE, on Dec. 5-6.

Chairman Choi formally proposed a joint discussion on global steel industry carbon neutrality and the collaborative development of sustainable low-carbon technologies during the World Steel Association member company meeting in April this year. In response to Chairman Choi’s proposal, all member companies actively supported it, leading to the successful organization of the Breakthrough Technology Conference.

The conference, attended by more than 300 participants, including global steel companies such as ArcelorMittal, Nippon Steel, US Steel, and Ternium, as well as representatives from leading engineering firms such as Primetals and Tenova. They discussed collaborative approaches by member companies to advance carbon neutrality, focusing on sharing achievements in low-carbon innovative technologies in the steel industry, and technologies such as hydrogen reduction ironmaking (HyREX) and Carbon Capture Utilization and Storage (CCUS).

In his opening keynote speech on the first day, Chairman Choi reiterated that maintaining and developing a sustainable steel industry is both a social mission and a challenge of the times. He said that the conference will be an important cornerstone for the global steel industry, which is facing the substantial challenge of achieving carbon neutrality, to unite in its efforts to accelerate the pace of technological innovation.

He stressed that the steel industry’s journey toward carbon neutrality has already begun, and investments in low-carbon technologies and processes should be carried out in a sustainable way. In particular, Chairman Choi said, “Let us collectively pursue joint R&D on similar themes to minimize redundant efforts among member companies in developing low-carbon steel manufacturing processes to advance the steel industry’s transition to low carbon.”

He added that there should be collaborative efforts to make the World Steel Association’s method for measuring carbon emissions an industry standard in more countries.

The inaugural Breakthrough Technology Conference, held this year for two days, expanded the scope and theme of the Hydrogen Iron & Steel Making Forum, focusing on △ hydrogen reduction ironmaking technology, △ low-carbon technology to enhance the energy efficiency of existing facilities, △ and new technologies using electricity.

During the conference, POSCO drew attention by presenting its carbon neutrality strategy, the current status of the development of its unique hydrogen reduction ironmaking technology called HyREX, and the low-carbon Bridge technology.

Additionally, POSCO showcased its environmentally friendly ironmaking technology using hydrogen instead of coal at the 28th UN Climate Change Conference of the Parties (COP28) in Dubai from Nov. 30 to Dec. 3. On Dec. 9, POSCO, in collaboration with the POSCO Management Research Institute, will host an international seminar on Decarbonization of the Steel Value Chain. POSCO aims to complete the introduction of a hydrogen reduction ironmaking pilot plant and the development of commercialization technology by 2030, and is targeting carbon neutrality by 2050 with a phased facility transition.

▲ POSCO Group Chairman Jeong-woo Choi gives a keynote speech at the World Steel Association’s Breakthrough Technology Conference in Abu Dhabi on Dec. 5.

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