Top 10 Companies in the South Korea Green Steel Market (2026): Market Leaders Driving South Korea’s Low‑Carbon Steel Transformation

South Korea Green Steel Market – View in Detailed Research Report

What Is Green Steel?

Green steel is steel produced with significantly reduced CO₂ emissions, primarily through hydrogen‑based direct reduced iron (H2‑DRI) and electric arc furnace (EAF) technologies. Unlike conventional blast‑furnace routes that rely on coal, green steel leverages renewable‑energy‑driven hydrogen or electricity to decarbonise the iron‑making process, delivering high‑strength grades that satisfy automotive, construction and infrastructure demands.

Top 10 Companies in the South Korea Green Steel Market (2026)

1️⃣ POSCO

Headquarters: Pohang, South Korea
Key Offering: Hydrogen‑based DRI, EAF, and carbon capture pilots

POSCO leads the market with its integrated H2‑DRI pipeline at Pohang and a portfolio of carbon‑capture projects that supply roughly a third of the domestic green‑steel output. The company’s vertical integration with the national hydrogen infrastructure plan and long‑term offtake agreements with the Korea Automotive Group underpin scale efficiencies and protect supply‑chain liveness.

• Investment of over USD 5 trillion in hydrogen projects under the Korean New Deal
• Carbon‑capture pilots delivering up to 1.5 Mt CO₂‑eq annually
• Strategic partnership with the Korea Energy Agency for hydrogen storage solutions

2️⃣ Hyundai Steel

Headquarters: Ulsan, South Korea
Key Offering: Electrified EAF expansion, H2‑DRI pilots

Hyundai Steel has accelerated its electrified EAF expansion across Ulsan and Chung‑Kang‑do, targeting automotive and construction sectors. Parallel investments in carbon‑capture utilization and storage prototypes ensure alignment with Korea’s 2050 carbon neutrality strategy.

• Projected EAF capacity of 12 Mt by 2030
• Strategic joint venture with a leading electrolyzer manufacturer
• Supply‑chain integration with Hyundai Motor Group for low‑carbon steel sourcing

3️⃣ Dongkuk Steel Mill

Headquarters: Gyeongju, South Korea
Key Offering: Scrap‑based EAF, low‑carbon specialty plates

Dongkuk Steel leverages its robust scrap‑based EAF chain to deliver lower‑carbon specialty plates for construction, positioning itself as a niche player in the green‑steel ecosystem.

• 30 % scrap utilisation in EAF operations
• Partnership with a leading cement manufacturer for carbon‑neutral cement production
• Investment in digital scrap‑tracking platform

4️⃣ SeAH Steel Corporation

Headquarters: Busan, South Korea
Key Offering: Green alloy line for heavy automotive components

SeAH Steel is launching a green alloy line aimed at lift‑heavy automotive components, enhancing its portfolio for OEMs seeking low‑carbon solutions.

• High‑strength low‑carbon alloy with 5 % reduction in CO₂ per ton
• Collaboration with a leading automotive supplier on joint R&D
• Commitment to 100 % renewable electricity by 2035

5️⃣ Hankum Co. Ltd.

Headquarters: Gyeonggi‑do, South Korea
Key Offering: Molten oxide electrolysis pilot, miniature advanced grades

Hankum is experimenting with molten oxide electrolysis on a pilot basis, focusing on miniature advanced steel grades for electronics and UAVs, thereby diversifying its product mix.

• Pilot capacity of 0.5 Mt per year
• Partnership with a university research institute for process optimisation
• Investment in high‑purity hydrogen production

6️⃣ YK Steel Corp

Headquarters: Incheon, South Korea
Key Offering: In‑house recycling loop for automotive chassis

YK Steel targets the in‑house recycling loop for automotive chassis, achieving near‑zero embodied carbon in the final product and reinforcing the circular‑economy narrative.

• Recycling rate of 80 % of scrap
• Collaboration with a major automotive OEM for closed‑loop supply
• Carbon‑neutral production target by 2030

7️⃣ Sung Won Steel Co., Ltd.

Headquarters: Gwangju, South Korea
Key Offering: Green steel for infrastructure projects

Sung Won delivers green steel for infrastructure projects, including bridges and high‑rise buildings, leveraging its EAF platform and renewable‑energy partnerships.

• Partnership with the Ministry of Land, Infrastructure & Transport for green‑steel procurement
• Renewable‑energy‑driven EAF capacity of 3 Mt
• Carbon‑capture integration for 0.5 Mt of CO₂ annually

8️⃣ Korea Iron & Steel Co., Ltd.

Headquarters: Seoul, South Korea
Key Offering: Integrated steel‑making and recycling platform

Korea Iron & Steel operates an integrated steel‑making and recycling platform, enabling it to offer both conventional and recycled steel grades across sectors.

• Integrated plant with 5 Mt annual capacity
• Collaboration with a national recycling authority
• Investment in digital traceability for carbon‑intensity tracking

9️⃣ LS Mtron

Headquarters: Seoul, South Korea
Key Offering: Automation and digital solutions for green steel production

LS Mtron provides automation and digital solutions that enhance efficiency and traceability in green‑steel plants, supporting operators in meeting stringent emissions targets.

• Digital monitoring platform adopted by 20 steel plants
• Partnership with POSCO for integrated data analytics
• Investment in AI‑driven process optimisation

🔟 SK Steel

Headquarters: Seoul, South Korea
Key Offering: Hydrogen‑driven DRI and EAF, ESG reporting tools

SK Steel is advancing hydrogen‑driven DRI and EAF, while offering ESG reporting tools that enable customers to quantify carbon savings across their supply chains.

• Committed to 50 % hydrogen‑based DRI by 2035
• ESG reporting platform integrated with global standards
• Strategic partnership with a leading renewable‑energy developer

South Korea Green Steel Market – View in Detailed Research Report

South Korea Green Steel Market – View in Detailed Research Report

Strategic Outlook

South Korea’s green‑steel trajectory is anchored by a clear policy framework, robust corporate demand, and a technology mix that balances hydrogen DRI and EAF. The country’s ambition to achieve carbon neutrality by 2050, coupled with the automotive and construction sectors’ shift to low‑carbon materials, positions the market to deliver high‑strength, low‑carbon steel at scale. Continued investment in hydrogen production, digital monitoring, and carbon‑capture technologies will be critical to maintaining cost competitiveness and meeting tightening emissions benchmarks.

Future Trends

• Scaling of hydrogen‑based DRI to 20 Mt by 2035, driven by government subsidies and OEM commitments
• Integration of AI‑driven digital platforms for real‑time emissions monitoring across EAF and DRI sites
• Expansion of circular‑economy initiatives, including in‑house recycling loops and steel‑to‑steel conversion
• Export growth to Japan and the EU, capitalising on border carbon taxes and green‑steel preference
• Development of regional hydrogen pipelines to support offshore wind‑driven hydrogen production