POSCO needs to go green faster to keep up with global shifts

Government can help by expanding emissions trading and buying low-carbon steel

Seungwan Kim

May 8, 2023 05:01 JST

POSCO's Pohang factory: The steelmaker hopes to prove the commercial feasibility of hydrogen-based production and gradually replace its blast furnaces by 2049. © Reuters

Seungwan Kim is chief executive and founder of NEXT Group, an energy and climate policy think tank based in Seoul, and is a professor of electrical engineering at Chungnam National University in Daejeon, South Korea.

POSCO Holdings, South Korea's leading steelmaker, last month announced a new vision of becoming a "green energy and global business pioneer," with the aim of doubling its sales of "eco friendly" steel by 2030.