LG Electronics is the first customer to purchase the newly launched low-emission steel products for the home appliance industry, the company added.
Posco's new steel product, called Greenate-certified steel, uses a mass balance methodology in which steelmakers allocate carbon reductions to steel products produced under low-carbon production programmes.
According to Posco, the company will be able to produce about 20-30 metric tonnes per year of this new low-emission steel. The amount of carbon emissions the company will reduce through this process will be approximately 59 tonnes.
With the recent steel launch, Greenate Posco became the first South Korean company to market steel products using mass balance methodology. According to Posco, this method has been adopted by overseas steelmakers since 2021. Companies using this relatively new method include ThyssenKrupp, Austria's Voestalpine, Tata Steel Europe and Kobe Steel.
"The low emission trend is inevitable in the steel industry and Posco is proactively responding by launching new products. The company has taken a step forward in its long-term journey towards carbon neutrality."
Posco expects the new low-emission steel product to offer its customers the opportunity to reduce emissions.
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