What is the Industry Trends Brief?

SFOC's Industry Trends Brief examines domestic and international trends related to industrial decarbonization including iron and steel, methane, and shipping, and explores ways for both industry and the natural environment to thrive.

 

Industry Trends Brief No.1

This publication presents some key challenges and strategic recommendations for the Korean steel industry in producing low-carbon steel.     

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.

 

 

Table of Contents:

• International Trends Toward a Low-carbon Economy
• Korean Government’s Strategy for Steel Industry Decarbonization
• Environmental Implications of the Current National Strategy
• Key Challenges in Hydrogen DRI Technology Innovation
• Recommendations for South Korea’s Low-carbon Steel Strategy

For more information, please download the brief below