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South Korea: With new tech, POSCO braces for stricter carbon rules

Source:  Copyright 2008, Reuters
Date:  October 5, 2008
Byline:  Miyoung Kim
Original URL: Status ONLINE

A wall of heat and sulfur from a towering furnace stoked to 1,500 degrees Celsius hits onlookers at POSCO's Pohang plant in South Korea amid the din of coal and iron ore rattling into vats of molten metal.

Pohang's oldest furnace, with a 35-year history, helped POSCO grow into the world's No.4 steel giant.

But it could soon become a thing of the past as POSCO, which alone produces around 10 percent of South Korea's total carbon dioxide emissions, moves to new technology to cope with stricter emission rules.

Carbon dioxide, the main greenhouse gas, is produced from burning fossil fuels to run industry and big emitters such as steelmakers are now rushing to improve energy efficiency as South Korea prepares to join a global move in tackling climate change.

The wealthy country, Asia's fourth-ranked economy, is coming under pressure from poorer nations who say rich states must do more to rein in their growing greenhouse gas ...

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