Paper Title
TECHNOLOGY COMPETITION AND TRANSITION TO CARBON NEUTRALITY IN THE STEEL INDUSTRY

Abstract
Steel industry is one of the energy-intensive industries in South Korea. It is the second-largest manufacturing industry in the country in view of final energy consumption. Steel industry sector with the help of Korean government is considering hydrogen-based DRI (direct reduced iron) to achieve carbon neutrality. This study uses GCAM-EML(Global Climate Analysis Model – Energy Modeling Laboratory), a national model based on GCAM developed by EML with a resolution of 229 cities and counties. Using this model, expected future technology selection processes among nine steel technologies are being examined. The model simulation results show that B.F. CCS(Blast Furnace Carbon Capture Storage), hydrogen-based B.F. CCS, and EAF(Electric Ark Furnace) DRI CCS are expected to be significant technologies in achieving carbon neutrality targets by 2050. Keywords - IAM(Integrated Assessment Model), steel & iron Industry, GCAM-EML, Mitigation