According to industry sources on the 22nd, Hyundai Motor Group and POSCO Group are known to have included the contents of joint development of hydrogen reduction steel technology in the’business agreement on hydrogen business cooperation’ signed on the 16th.
Hydrogen reduction steel technology refers to a process technology that reduces carbon dioxide emissions through a reduction process using hydrogen. It is known that about 1.85 tons of carbon dioxide is generated to make 1 ton of steel using the conventional method.
Both companies aim to achieve carbon neutrality early by removing carbon from the process of producing steel materials used by Hyundai Motors, such as automotive steel sheets. Hydrogen reduction steelworks use green hydrogen as a reducing agent, so they do not emit carbon in the process of making molten metal. Green hydrogen refers to energy that does not emit greenhouse gases in both production and use.
POSCO is planning to open the era of decarbonization and hydrogen in the steel sector by implementing a hydrogen reduction steel mill based on green hydrogen by 2050. However, it is said that for this, a new steel mill must be built.
Previously, the two companies decided to gradually convert 1,500 vehicles, such as trucks operated by POSCO Pohang and Gwangyang Works, into Hyundai Motor’s hydrogen electric vehicles according to the agreement.
In addition, POSCO Group will develop green hydrogen manufacturing technology using ammonia, and Hyundai Motor Group will also promote POSCO Group’s fuel cell power generation business using green hydrogen.
On the 16th, Hyundai Motor Group Chairman Eui-sun Eui-sun (second left), POSCO Group Chairman Choi Jeong-woo (second right), Hyundai Motor Vice President Kim Se-hoon (first left), and Yoo Byung-ok, head of POSCO Industrial Gas and Hydrogen Business Division (first right), are taking commemorative photos after the business agreement. [사진=현대차그룹 제공]
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