Hyundai Steel Signs MOU for Plant Technology Cooperation with Gas Technology Corporation
[Asia Economy Reporter Park Soyeon] Hyundai Steel and Korea Gas Technology Corporation join hands to revitalize the plant industry and strengthen expertise.
On the 9th, Hyundai Steel announced that it signed a 'Strategic Business Agreement (MOU) for Plant Technology Cooperation' at the Dangjin Steelworks Research Institute, attended by Cho Yong-don, Head of Technology Business Group at Korea Gas Technology Corporation, and Lee Jaehwan, Head of Sales Division at Hyundai Steel.
This MOU focuses on jointly advancing technological responses over the next three years to enhance competitiveness in securing domestic and overseas plant projects between Hyundai Steel and Korea Gas Technology Corporation.
Through this MOU, Hyundai Steel expects to expand sales of steel products in the LNG plant sector, including newly developed steel grades such as 9% nickel thick plates and cryogenic rebar. Korea Gas Technology Corporation anticipates further strengthening its competitiveness in expanding overseas PCM (Project Control Management) projects.
The 9% nickel thick plate developed by Hyundai Steel is an ultra-high-performance steel used in LNG tanks, featuring excellent resistance to impact-induced fracture even at cryogenic temperatures and superior weldability. The cryogenic rebar is manufactured by adding elements such as manganese, nickel, and aluminum and using the TMCP (Thermo-Mechanical Controlled Processing) method, resulting in a product with impact toughness (a property preventing breakage upon impact) even at cryogenic temperatures as low as -170℃.
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A Hyundai Steel official stated, "Through the MOU with Korea Gas Technology Corporation, we will work on improving the price competitiveness of plant steel and expanding the application of newly developed high-performance steel grades."
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