Korea Herald reported that South Korean steel maker Hyundai Steel has signed a memorandum of understanding with state-funded think tank Korea Institute of Geoscience and Mineral Resources on technological cooperation to move faster towards carbon neutrality. Through cooperation with KIGAM, Hyundai Steel said it will be able to add value to waste materials, and reduce emission of carbon and other toxic substances that occur during use of materials. Hyundai Steel said “The technological exchange will allow us to develop new material analysis technologies, and apply them in production to raise the efficiency of steel materials management and operation. Enhancement of material quality will help improve the quality of steel products and achieve carbon neutrality.”Hyundai Steel had also signed a memorandum of understanding last week with the Korea Institute of Energy Research for technical cooperation on eco-friendly steelmaking technology development. The two parties have agreed to cooperate on the research and development of carbon emissions reduction technologies, which involve carbon capture, utilization and storage and hydrogen production techniques. Through the MoU, Hyundai Steel plans to accelerate the development of an advanced technology that scales up the amount of hydrogen generated.