POSCO Expands Nuclear Business with KAERI

POSCO, South Korean largest steel maker announced on Friday the firm agreed in the cooperation for nuclear technology development with Korean Atomic Energy Research Institution (KAERI). POSCO and KAERI advance cooperative researches for nuclear systems and nuclear materials for nuclear power facilities such as SMART atomic furnaces or Very High-Temperature Gas-Cooled Reactor (VHTR). POSCO is expanding new energy businesses, planning to develop a new steel making method to reduce iron ore by hydrogen made by VHTR.

SMART atomic furnace is a small atomic furnace which can supply water and electricity to a city of about 100,000 peoples. The furnace befits lands hard to construct large nuclear power plants and power transmission networks. VHTR can produce much hydrogen by utilizing high heat gas at about 950 degrees Celsius by atomic fission.

POSCO aims to reduce CO2 emission by 9% per tonne of crude steel until 2020. POSCO plans to bring up green businesses and develop steel production processes of high energetic efficiency with the investment of 7 trillion won until 2018.