POSCO, South Korea’s leading steelmaker, has announced ambitious plans to invest 121 trillion won (USD 88 billion) by 2030, with 45 trillion won (USD 35 billion) allocated for international projects focused on emissions reduction. The company's investment strategy aims to accelerate its transition to environmentally sustainable production.
Of the total investment, 29 trillion won (USD 21.2 billion) will be directed toward eco-friendly steel initiatives. POSCO intends to focus its investments on three key areas within the steel industry: achieving carbon neutrality, improving demand response, and recovering production capacity. The company plans to shift to a low-carbon production model through innovative technologies like HyREX and will also allocate funds for environmental compliance, including measures related to emissions trading systems.
In line with global trends, POSCO is also expanding its capabilities in the production of electrical steel, catering to the increasing demand for electric vehicles. Moreover, investments will be made to modernize blast furnaces and upgrade steelmaking and rolling equipment, which are expected to boost productivity and enhance operational efficiency.
POSCO has earmarked 16 trillion won (USD 12 billion) for renewable energy projects and an additional 1 trillion won (USD 730 million) for blue hydrogen production linked to its steel operations. In addition, with the support of the government, the administrative processes of the 20 trillion won (USD 14.6 billion) hydrogen-based steel project at the Pohang Steel Mill have been accelerated.
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