South Korean steel giant POSCO is promoting Conversion to Low-carbon Eco-friendly Steelmaking Process HyREX to achieve the goal of net-zero carbon 2050, such as the development of hydrogen reduction steelmaking, expansion of renewable energy & CCS, to find a way to survive. Hydrogen reduction steelmaking is an innovative technology that produces iron using hydrogen instead of fossil fuels. When fossil fuels such as coal and natural gas react chemically with iron ore, they generate carbon dioxide, while hydrogen only generates water. Therefore, hydrogen reduction steelmaking can dramatically reduce carbon emissions in the steelmaking process.HyREX is a steelmaking method that manufactures molten metal using iron ore fines and hydrogen based on the FINEX fluidized reduction technology POSCO has. The common feature of coal, natural gas and hydrogen is that they play the role of a reducing agent that takes oxygen rom iron ore. The core of hydrogen reduction steelmaking is the reduction furnace, a device where the reduction reaction of iron ore by hydrogen occurs. First, iron ore contacts hydrogen heated to a high temperature to make iron. The iron made this way is called direct reduced iron. After that, if DRI is put into an electric furnace and melted, molten iron is produced.POSCO held Hydrogen Iron & Steel Making 2021, the first international forum on hydrogen reduction steelmaking, in October last year. In this event, POSCO introduced HyREX technology to global steel companies for the first time. POSCO will build a test facility with annual production of a million tons in Pohang Works by 2028 in cooperation with the government and Korean steel companies to confirm the possibility of commercialization of HyREX technology, a hydrogen reduction steelmaking method based on FINEX fluidized bed reduction reactor technology. This means a technical confirmation of the difference between fluidized reduction operation and existing FINEX to convert the existing method where the carbon monoxide of FINEX fluidized reduction furnaces is partially mixed with hydrogen or 100% hydrogen. Also, process technology for a new electric furnace dedicated to hydrogen reduction steelmaking is being developed. DRI made of fossil fuel has a small amount of carbon due to carburization reaction. If DRI has carbon, the melting point of iron is lowered by 200~300 degree Celsius from 1538 degree Celsius, making melting easier. On the other hand, DRI produced using 100% hydrogen has no carbon at all, and melting is relatively difficult. Therefore, there is a need to develop a new type of electric furnace technology that is different from existing electric furnaces.POSCO has successfully produced a cumulative 34 million tons of molten metal in a FINEX plant since the start of FINEX technical development in 1992 and the commercialization of the technology in 2007. In general, the technical development stage leads to the expansion of commercialization through the lab for verification of concept, pilot for verification of consecutive process and demo for verification of commercialization stages. However, POSCO plans to enter the demonstration stage from 2025 without a pilot stage and verify HyREX technology in 2030 based on its technologies and experience from FINEX process development. POSCO plans to enhance its future global steel technology leadership in the conversion to net-zero carbon, by verifying HyREX technology by 2030 and leading the era of green steel. Also, POSCO will achieve net-zero carbon 2050 by converting existing blast furnaces in the Pohang and Gwangyang steelworks to hydrogen reduction steelmaking in a phased manner by 2050.