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POSCO begins construction of electric furnace plant in Gwangyang

Collected: 2024.02.07

Distributed: 2024.02.08

Source: Go Direct

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[Courtesy of POSCO]

South Korean steelmaker POSCO launched the construction of a 2.5 million-ton electric furnace in Gwangyang, South Jeolla Province, on Tuesday, accelerating its transition to a low-carbon production system.

POSCO announced the commencement of the electric furnace project on Tuesday. The groundbreaking ceremony was attended by 130 officials, including POSCO Chief Executive Officer Kim Hag-dong and Park Chang-hwan, the provincial government’s vice-governor for political affairs.

The project marks the introduction of a large-scale facility for producing molten iron, the first of its kind in 24 years since the completion of the fifth blast furnace at the steelworks in April 2000.

Once the electric furnace operation begins, POSCO anticipates a reduction of about 3.5 million tons of carbon dioxide annually, compared to traditional blast furnace methods.

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POSCO Chief Executive Officer Kim Hag-dong [Courtesy of POSCO]

“Amid the rapidly changing business environment due to global climate crises and trade regulations, we will establish a swift and competitive low-carbon production system starting with the launch of this electric furnace project,” said CEO Kim during the event.

The new electric furnace is scheduled to be completed by the end of 2025, with full-scale operation commencing in 2026.

To overcome the limitations of electric furnaces in producing high-grade steel, POSCO plans to apply its proprietary blending technology.

Electric furnace blending involves mixing molten iron from blast furnaces with molten steel from electric furnaces, enabling both carbon emission reduction and the production of high-grade steel simultaneously.

By Cho Yun-hee and Minu Kim

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