Hyundai Steel wins World Steel Association Steely Award

Hyundai Steel has been named the top company in the Life Cycle Assessment (LCA) category at the World Steel Association’s Steely Awards. The announcement was made during the association’s annual event held in New Delhi, India.

The company received the award for its work on ‘standardizing LCA calculation guidelines to enhance comparability between steel products.’ Specifically, Hyundai Steel proposed a method to minimize environmental impact deviations in by-product gas calculations, which can significantly alter carbon emission results depending on the calculation standard used.

To develop this method, Hyundai Steel conducted a three-year joint research project with Inha University starting in 2023. The research involved simulations across more than 24 scenarios to determine optimal application methods for calculating environmental impacts and carbon emissions. The company has already applied these improved calculation methods to obtain international Environmental Product Declarations (EPD) for products manufactured via blast furnaces, verifying the reliability and applicability of the new standards.