Dongkuk Steel aims to reduce greenhouse gas emissions by 10% with eco-friendly products
'Steel for Green' Eco-friendly Steel Strategy Announcement
Vision Presented Including 10% Greenhouse Gas Reduction by 2030
[Asia Economy Reporter Moon Chaeseok] Dongkuk Steel is leading the transition to an eco-friendly system in the steel industry. The company has decided to utilize electric arc furnace (EAF) steelmaking, an eco-friendly steelmaking method that reduces greenhouse gas emissions by approximately 75% compared to blast furnaces.
At the regular shareholders' meeting in March, Dongkuk Steel announced its "Steel for Green" strategy, setting a goal to reduce greenhouse gas emissions by 10% by 2030 compared to 2018 levels. This target is about four times higher than the government's guideline reduction goal of 2.3%.
Specific measures to achieve this include advancing EAF technology and expanding eco-friendly products. In 2010, Dongkuk Steel was the first in the industry to introduce the "EcoArc EAF," which continuously charges scrap metal into the electric arc furnace to maximize energy efficiency. As part of its plan to advance EAF technology, Dongkuk Steel is focusing on further technological development of the EcoArc EAF. To replace coal-based carbon used in the steel production process, the company plans to recycle waste tires and waste plastics, aiming to reduce greenhouse gas emissions by about 10%.
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Dongkuk Steel is also leading the expansion of eco-friendly color-coated steel products. The Dongkuk Steel Busan plant is the world's largest color-coated steel production base for a single plant. In March, Dongkuk Steel completed the development of the world's first eco-friendly solvent-free color-coated steel, "Luxsteel BM Uniglass." Commercialization is planned for the second half of this year. Luxsteel BM Uniglass completely eliminates the "solvent," which accounts for 50% of the coating, and replaces it with biomass raw materials such as corn, soybeans, and sugarcane.
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