Gwangyang: South Korean steelmaker POSCO Co. announced the completion of an electric arc furnace (EAF) on the nation's southern coast, marking a significant step in its efforts to advance lower-carbon steelmaking.
According to Yonhap News Agency, the nation's largest EAF, with an annual production capacity of 2.5 million tons, was constructed in Gwangyang, approximately 360 kilometers south of Seoul. This project, which took more than two years to complete, involved an investment of about 600 billion won (US$396.7 million).
EAFs offer a more environmentally friendly alternative to conventional steelmaking processes, which primarily use iron ore and coal. By recycling scrap metal, EAFs can reduce carbon emissions by up to 75 percent compared to traditional blast furnaces.
POSCO is also developing hybrid steelmaking technologies, which include mixing molten iron from blast furnaces and EAFs. This approach aims to maintain steel quality while achieving reduced emissions. The company has set a goal of mass-producing automotive steel sheets and electrical steel by 2030.