The Climate Group (SteelZero), ResponsibleSteel, and Solutions for Our Climate (SFOC) held a special multi-stakeholder industry seminar to discuss decarbonisation of the steel industry and pragmatic solutions to tackle climate change. The event, “Decarbonising South Korean Steel Aligning Customer Demand and Production Pathways” is the first of its kind to be held in South Korea.
Industry experts and practitioners across the steel value chain gathered to share their expertise on steel decarbonisation pathways and corporate climate leadership. The event brought together corporates with investors and civil society to discuss the most effective and pragmatic routes to rapid decarbonisation, technical breakthroughs and the role companies across the steel value chain can play to support the growing sustainable steel market in South Korea.
South Korea’s steel industry is a major domestic industrial and economic sector and a dominant player on the world stage. In 2021, South Korea ranked as the world’s 6th largest steel-producing country, with 71.4 million tons of crude steel accounting for a 3.8% share of global production. Additionally, the South Korean steel industry is an important material supplier for major related industries such as automotive, construction, and shipbuilding, with a huge inter-industrial linkage.
Attendees included some of the leading players in the steel industry both steel producers and downstream customers such as POSCO, Hyundai Steel, SeAH Steel, SeAH Besteel, Donguk Steel, Hyundai Motor Group, Schneider Electric, WSP, A.P. Moller Maersk, Ørsted and others.
