Hyundai
Steel CEO An Tong-il unveils the firm’s 2030 carbon neutrality road map at a
video conference held in April. (Hyundai Steel)
South Korean
steelmaker Hyundai Steel said Thursday its low-carbon H-beam steel product has
earned an eco-friendly certification from the Environment Ministry, becoming
the first steelmaker in Korea to do so.
Part of the Environmental Product Declaration certification system, the
recognition is given to a product that emits less carbons compared to the
average emissions within the same product category.
The scheme aims to encourage businesses to voluntarily reduce carbon emissions.
Hyundai Steel’s H-beam steel is produced in an electric furnace by using
recycled iron scrap. The steelmaker’s electric furnace technology, called
Hy-Arc, combines electric arc and basic oxygen furnaces. The technology reduces
carbon emissions throughout the whole steel production process as it uses
electricity as the heat source. It also improves the purity of steel to be used
for high-end products such as automotive steel sheets.
The company also completed the production line for an ultrahigh strength H-beam
steel that has reduced weight compared to existing products. The lighter steel
helps reduce construction period and costs, which means fewer carbon emissions
throughout a construction project.
Its low-carbon steel products, certified as “green products” by the government,
are obliged to be purchased by public organizations. When they are used for
residential or commercial buildings, the builders are subject to diverse
benefits such as tax cuts.
“Through the latest low-carbon certification, we have proved our electric
furnace technology and related technologies,” a Hyundai Steel official said.
“We will continue efforts to lead green management at home and seek expansion
into the global low-carbon market.”