The Korea Herald reported that South Korean steel maker Hyundai Steel has set up its new and unique steel production system using an electric furnace called Hy-Cube, with a goal to produce low-carbon, high-quality steel products toward 2030. Hy-Cube refers to Hy3 or Hyundai Hydrogen Hybrid, a process of melting raw iron material to remove impurities when adding new components by using a new electric furnace concept called Hy-Arc. Hyundai Steel will also leverage IT technology such as artificial intelligence to flexibly apply original raw materials for electric furnaces, hydrogen-reduced iron and carbon-neutral molten iron in the manufacturing process.With this new electric furnace, Hyundai Steel plans to minimize carbon emissions by using scrap iron, molten iron and direct reduced iron for production of high-quality plate materials like automotive steel. Such a process also emits about 25% less carbon compared to steelmaking with a blast furnace. Established in 1953, Hyundai Steel is headquartered in Incheon and Seoul in South Korea and is a member of the Hyundai Motor Group. Hyundai Steel is the world's second-largest EAF steel producer after Nucor of US and operates six factories in Incheon, plus sites in Dangjin (3 blast furnaces, Hot coil, CR & plate mill), Pohang (EAF), Suncheon (CR mill), Ulsan (pipemill) and in China's Chungdo province. It manufactures a wide variety of products ranging from H-beams, rail and reinforcing bars, to hot coil, cold-rolled steel, and stainless cold-rolled sheet.