Hyundai Steel was recognized as an “Outstanding Company” at the Ministry of Trade, Industry and Energy’s 2024 International Environmental Regulation Response Awards.
The 2024 International Environmental Regulation Response Awards Ceremony
The awards officially recognize the achievements of businesses and individuals in complying with international environmental regulations through proactive preparation and action. This year’s ceremony was held as part of the 2024 Korea Circular Economy Festival at the COEX Magok Convention Center on December 4. On behalf of Hyundai Steel, the Electric Arc Furnace Production Technology Group, recognized within the company for its achievements in export and supply chain support, attended the ceremony and received the award on behalf of Hyundai Steel, issued by the Minister of Trade, Industry and Energy.
Team Leader Kim Jeongjae of the Electric Arc Furnace Production Technology Group at Pohang Works (far right)
receives the award on behalf of Hyundai Steel
The Electric Arc Furnace Production Technology Group has improved energy efficiency in steelmaking by acquiring a “smart arc system” that optimizes energy consumption in electric arc furnaces and developing an optimal energy input pattern. As a result, Hyundai Steel has made significant strides in responding to international environmental regulations, including reducing its annual average electricity consumption by approximately 40,000 MWh and lowering carbon emissions by around 18,600 tCO2e per year in its electric arc furnace processes. A range of exported rebar and section steel products has been manufactured under these sustainable conditions.
In addition to energy efficiency technology development, Hyundai Steel has been actively engaged in various initiatives. In 2011, it became the first electric arc furnace operator in Korea to invest in electric arc furnace energy optimization technology. These systems have since been installed at its seven electric arc furnace production plants in Incheon, Pohang, and Dangjin, where energy efficiency is being optimized, and in-house experts are being fostered. Hyundai Steel regularly undergoes environmental regulation audits by external organizations, including those aligned with ISO 50001 (Energy Management System). Its products are certified under the Environmental Product Declaration (EPD) system by the Korean Ministry of Environment, as well as by counterparts in the US and Europe, and its recycled products have received the Good Recycled (GR) certification from the Korean government for product quality and sustainability.