Gearing up for Carbon Neutrality
The Ministry of Trade, Industry and Energy has launched the Green Steel Committee to gear up the domestic steel industry for carbon neutrality.
The committee is an industrial-academic-government cooperation scheme to discuss the goal of 2050 carbon neutrality in the steel industry. POSCO chairman Choi Jeong-woo and Yonsei University Vice President Min Dong-jun are the first chairpersons of the committee. The former is the head of the Korea Iron & Steel Association as well.
“Low-carbon evolution is no longer a matter of choice,” said Trade, Industry and Energy Minister Sung Yun-mo at the inaugural meeting of the committee on Feb. 2. “We will concentrate on our five key action plans for carbon neutrality so that the industry can accelerate its technological innovation and investment.”
The action plans consist of the operation of the committee, vision and strategy setting for industrial transformation, special law enactment for a faster change in industrial structure, R&D led by the private sector, and cost burden reduction by deregulatory efforts.
At the launching ceremony, POSCO, Hyundai Steel, Dongkuk Steel, KG Dongbu Steel, Seah Steel and SIMPAC signed a joint statement for 2050 carbon neutrality.