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POSCO to invest $14bn in low-emissions steel production

Electric furnaces and hydrogen technology aim to cut carbon output 10% by 2030

POSCO will adopt hydrogen technology to overseas, including Indonesia. (Photo is POSCO's blast furnace mill in Indonesia, courtesy of POSCO)

SEOUL/TOKYO -- South Korean steelmaker POSCO Holdings will invest 20 trillion won ($14 billion) in technologies to mitigate its environmental impact amid mounting pressure on the industry to cut its hefty greenhouse gas emissions.

The company plans to build two electric furnaces, one each at its Gwangyang and Pohang works, slated to start up in 2025 and 2027, respectively. These will replace the output of aging blast furnaces to be shut down.

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