Hyundai Steel CEO An Tong-il unveils the firm’s 2030 carbon neutrality road map at a video conference held in April. (Hyundai Steel)

South Korean steelmaker Hyundai Steel said Thursday its low-carbon H-beam steel product has earned an eco-friendly certification from the Environment Ministry, becoming the first steelmaker in Korea to do so.

Part of the Environmental Product Declaration certification system, the recognition is given to a product that emits less carbons compared to the average emissions within the same product category. 

The scheme aims to encourage businesses to voluntarily reduce carbon emissions.

Hyundai Steel’s H-beam steel is produced in an electric furnace by using recycled iron scrap. The steelmaker’s electric furnace technology, called Hy-Arc, combines electric arc and basic oxygen furnaces. The technology reduces carbon emissions throughout the whole steel production process as it uses electricity as the heat source. It also improves the purity of steel to be used for high-end products such as automotive steel sheets.

The company also completed the production line for an ultrahigh strength H-beam steel that has reduced weight compared to existing products. The lighter steel helps reduce construction period and costs, which means fewer carbon emissions throughout a construction project.

Its low-carbon steel products, certified as “green products” by the government, are obliged to be purchased by public organizations. When they are used for residential or commercial buildings, the builders are subject to diverse benefits such as tax cuts.

“Through the latest low-carbon certification, we have proved our electric furnace technology and related technologies,” a Hyundai Steel official said. “We will continue efforts to lead green management at home and seek expansion into the global low-carbon market.”

By Song Jung-hyun (junghyun792@heraldcorp.com)