Korea to develop hydrogen-based steelmaking technology by 2030

Korea will push to develop hydrogen-based steelmaking technology by 2030 to support the local steel industry's efforts to bolster its global competitiveness and achieve carbon neutrality, the industry ministry said Thursday. With the recent completion of a feasibility study, the Ministry of Trade, Industry and Energy plans to invest a combined 814.6 billion won ($600 million) over the next five years to develop a demonstration technology for hydrogen-based steelmaking in cooperation with the private sector, according to ministry officials. Major economies have been working to secure this promising technology, which uses hydrogen gas instead of coal to smelt iron ore, as it could help steelmakers significantly reduce carbon emissions by more than 95 percent compared to traditional methods. Under the plan, the country will build a facility capable of producing 300,000 tons of hydrogen reduced steel and molten iron, and apply the hydrogen-based steelmaking technology on electric arc furnaces owned by small and medium sized companies. The project plans to leverage an alternative steelmakingWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times