South Korean steel giant POSCO has signed an agreement for hydrogen reduction steel making engineering technology cooperation with Primetals on 26 July 26 at the Pohang Technical Research Laboratories. POSCO plans to achieve carbon neutrality by 2050 through its HyREX technology, a unique eco-friendly hydrogen reduction steelmaking model. To this end, the company decided to start designing the HyREX demonstration plant in earnest from this month with Primetals, which jointly designed the FINEX facilities with POSCO.Starting with this design, POSCO plans to continue the demonstration plant EPC and verify the commercial feasibility of hydrogen reduction steelmaking by 2030 in the medium term. After that, the company plans to achieve carbon neutrality by 2050 by gradually replacing the current blast furnace with HyREX-based facilities after optimizing production.Hydrogen reduction steelmaking is a technology that uses 100% hydrogen to make Direct Reduced Iron and melts it in an electric furnace to produce molten iron. Since there is no carbon emission in the process, it is considered a solution for carbon neutrality in the steel industry. POSCO is currently operating a FINEX facility that uses reducing gas containing 25% hydrogen and is developing HyREX, a POSCO-type hydrogen reduction steelmaking model based on FINEX technology.Meanwhile, POSCO will hold the HyIS Forum 2022 this year following last year. This forum, co-hosted by POSCO and Swedish steel company SSAB, will be held in Stockholm in Sweden on 12-13 October, both online and offline.