South Korean steel maker POSCO Group announced on 5 September that it would showcase its hydrogen business vision at the 2021 H2 Mobility+Energy Show to be held at KINTEX Convention Center in Goyang in Gyeonggi Province of South Korea from September 8 to 11. A total of six group companies, including POSCO, POSCO International, POSCO E&C, POSCO Energy, POSCO SPS and Research Institute of Industrial Science & Technology will participate in this expo. The exhibition booth of POSCO Group will cover an area of 540 square meters and will consist of themes of group hydrogen business vision, hydrogen reduction steelmaking, hydrogen production, hydrogen storage and distribution and hydrogen utilization.In the very center of the booth, POSCO Group's hydrogen-reduced steelmaking method is presented. POSCO is going to introduce the principle of hydrogen-reduced steel and a virtual steel mill implemented through it for the first time in Korea by visualizing it with models and images. Hydrogen-reduced iron is a core technology that can produce iron without carbon dioxide emission unlike the existing blast furnace method by using hydrogen as a reducing agent instead of coal.In addition, the business model that POSCO Group is promoting in the hydrogen production field will also be exhibited. POSCO plans to produce 500,000 tons of blue hydrogen by 2030, which captures and stores carbon dioxide generated in the process of producing 70,000 tons of grey hydrogen through by-product gas and LNG reforming of steel mills by 2025. The current status of such business promotion will be revealed through concrete models and videos at this fair. POSCO Group's solutions applied to hydrogen storage and distribution will also be unveiled.South Korean government aims to achieve carbon neutrality by 2050, with plans to invest 12 trillion won into related industries and policies next year as the first step. In order to back up the government's initiatives, several major conglomerates are set to update their investment plans for hydrogen-centric businesses. Top-tier companies including Hyundai Motor Group, SK Group and Lotte Group have formed an alliance to launch a hydrogen council aimed at cutting carbon emissions. The official launch ceremony, to be held on September 8, will be attended by Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won and Lotte Group Chairman Shin Dong-bin. Major Korean conglomerates, including Hyundai Motor Group, SK, POSCO, Hanwha and Hyosung, have vowed to invest over 43 trillion won (USD 37 billion) by 2030 to establish comprehensive hydrogen value chain and get closer to their zero-emission goals. Among them, Hyundai Motor Group, the nation's largest hydrogen mobility company, plans to exhibit its new FCEVs, and its affiliates, including Hyundai Mobis and Hyundai Rotem, will introduce new fuel cell systems and fuel cell electric trams.
South Korean steel maker POSCO Group announced on 5 September that it would showcase its hydrogen business vision at the 2021 H2 Mobility+Energy Show to be held at KINTEX Convention Center in Goyang in Gyeonggi Province of South Korea from September 8 to 11. A total of six group companies, including POSCO, POSCO International, POSCO E&C, POSCO Energy, POSCO SPS and Research Institute of Industrial Science & Technology will participate in this expo. The exhibition booth of POSCO Group will cover an area of 540 square meters and will consist of themes of group hydrogen business vision, hydrogen reduction steelmaking, hydrogen production, hydrogen storage and distribution and hydrogen utilization.In the very center of the booth, POSCO Group's hydrogen-reduced steelmaking method is presented. POSCO is going to introduce the principle of hydrogen-reduced steel and a virtual steel mill implemented through it for the first time in Korea by visualizing it with models and images. Hydrogen-reduced iron is a core technology that can produce iron without carbon dioxide emission unlike the existing blast furnace method by using hydrogen as a reducing agent instead of coal.In addition, the business model that POSCO Group is promoting in the hydrogen production field will also be exhibited. POSCO plans to produce 500,000 tons of blue hydrogen by 2030, which captures and stores carbon dioxide generated in the process of producing 70,000 tons of grey hydrogen through by-product gas and LNG reforming of steel mills by 2025. The current status of such business promotion will be revealed through concrete models and videos at this fair. POSCO Group's solutions applied to hydrogen storage and distribution will also be unveiled.South Korean government aims to achieve carbon neutrality by 2050, with plans to invest 12 trillion won into related industries and policies next year as the first step. In order to back up the government's initiatives, several major conglomerates are set to update their investment plans for hydrogen-centric businesses. Top-tier companies including Hyundai Motor Group, SK Group and Lotte Group have formed an alliance to launch a hydrogen council aimed at cutting carbon emissions. The official launch ceremony, to be held on September 8, will be attended by Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won and Lotte Group Chairman Shin Dong-bin. Major Korean conglomerates, including Hyundai Motor Group, SK, POSCO, Hanwha and Hyosung, have vowed to invest over 43 trillion won (USD 37 billion) by 2030 to establish comprehensive hydrogen value chain and get closer to their zero-emission goals. Among them, Hyundai Motor Group, the nation's largest hydrogen mobility company, plans to exhibit its new FCEVs, and its affiliates, including Hyundai Mobis and Hyundai Rotem, will introduce new fuel cell systems and fuel cell electric trams.
