POSCO plans to produce all steel using hydrogen by 2050

South Korean steelmaker POSCO plans to complete the commercialization of its HyREX , and by 2050, switch its steel mills in Pohang and Gwangyang to steel production based entirely on hydrogen reduction technology. The company will use green hydrogen using HyREX technology to produce direct reduced iron (DRI) for electric arc furnaces. The steelmaker is accelerating the commercialization of this method. In July 2022, it signed an agreement with UK-based Primetals to design a HyREX test plant, the latter to be built in 2026. In 2033, POSCO intends to replace existing production methods such as blast furnace with HyREX 1 at its Pohang plant. By 2050, the company will complete the construction of hydrogen steel production systems at Pohang Works and Gwangyang Works. POSCO is also stepping up its efforts to create environmentally friendly commercial production systems abroad. The company plans to double its overseas steel production capacity by 2030 (from 5 million tons in 2022).