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Lee Bo-ryong, president of Hyundai Steel (left), poses for a commemorative photo with Thachat Viswanath Narendran, vice chairman of the World Steel Association, after receiving the top award in the Life Cycle Assessment (LCA) category at the Steelie Awards held in New Delhi, India, on the 12th local time. / Hyundai Steel

Hyundai Steel has been named the top company in the Life Cycle Assessment (LCA) category at the Steelie Awards hosted by the World Steel Association (worldsteel).

Hyundai Steel announced on the 15th that it was selected as the best company in the LCA category at the worldsteel annual event held in New Delhi, India. This marks the first time Hyundai Steel has won a Steelie Award.

The Steelie Awards is the global steel industry's premier awards ceremony, held annually by the World Steel Association to honor exemplary achievements by member companies that contributed to the development of the steel industry. Awards are presented across six categories: low-carbon steel production, innovation of the year, sustainability, LCA, education and training, and communications programmes.

Among these, the LCA category recognizes achievements in the standardization of calculation methodologies or the application of LCA in product development, process improvement, business, and policy. Hyundai Steel received high praise for presenting a calculation method that minimizes environmental impact variations of by-product gases to enhance the comparability of carbon emissions across steel products.

To this end, Hyundai Steel conducted joint research with Inha University over three years starting in 2023, performing simulations across more than 24 scenarios. By calculating the environmental impacts and carbon emissions of by-product gas combustion for each scenario, the team derived an optimal application methodology.

Furthermore, by applying the research findings toward acquiring overseas Environmental Product Declaration (EPD) certifications for blast-furnace products, the company verified the reliability and applicability of the calculation method.

A Hyundai Steel official said, "Our contribution to securing reliability in environmental impact assessments for steel products was highly evaluated within the global steel industry. We will continue our efforts to provide credible and trustworthy information moving forward."

                                                                                                            Kim So-young