POSCO Group completes eco-friendly electric furnace reducing greenhouse gas emissions by 75%

POSCO Group marked a significant step towards decarbonization and supply chain resilience with the inauguration of an eco-friendly electric furnace and a rare gas production plant at its Gwangyang steelworks on Tuesday.

The new large-scale electric furnace, with a capacity of 2.5 million tons, represents a substantial investment of approximately 600 billion won. Construction began in February 2024, and the facility is designed to cut greenhouse gas emissions by 75%. This move signals POSCO's full transition to a low-carbon production system. The company plans further research and development into electric furnace technology, with the goal of mass-producing automotive and electrical steel using this method by 2030.

Alongside the electric furnace, POSCO also celebrated the completion of 'POSCO Air Solution,' a plant dedicated to producing high-purity rare gases such as xenon, krypton, and neon. This facility is crucial for securing the supply of essential materials for advanced industries.

POSCO Group Chairman Jang In-hwa emphasized the company's commitment to addressing the era's challenge of carbon neutrality and solidifying its position as a leading future materials company. He also stressed the importance of producing critical advanced industrial materials with domestic technology to serve as a cornerstone for South Korea's supply chain security.

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Let us solve the era's challenge of decarbonization and solidify our position as a leading future materials company. Furthermore, we must become a pillar that protects Korea's supply chain security by producing essential materials for advanced industries with our own technology.