In recent years, a new trade order is emerging in which the ability to produce low-carbon products has become an export competitiveness. Steel, the core material of the industry, is faced with the enormous challenge of becoming carbon neutral.
To achieve carbon neutrality while protecting the domestic steel industry, it is essential to secure competitiveness in low-carbon technologies. More active financial and policy support is needed for production demonstration and commercialization of HyREX, Korea's unique hydrogen reduction steel technology.
In particular, domestic renewable energy production capacity and price competitiveness are a set of key prerequisites to adopting low-carbon steel technological innovations.
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