Seoul, South Korea – POSCO, the leading South Korean steelmaker, has announced significant progress with its independently developed high manganese steel (HMS), a material poised to revolutionize the storage and transportation of LNG and other alternative fuels. Facing a prolonged industry slump, POSCO is betting on its technological innovation to drive growth.

HMS, a unique steel alloy containing 10 to 30 percent manganese, offers a compelling alternative to traditional materials like nickel alloy steel. Its superior wear resistance, non-magnetic properties, and ability to withstand extreme temperatures make it ideally suited for LNG tank construction. Crucially, HMS offers a cost advantage due to the more stable global supply of manganese compared to nickel.

POSCO's HMS has already been deployed in the construction of several LNG tanks at the Gwangyang LNG Terminal, operated by POSCO International. The company is also supplying HMS for ongoing expansion projects at the terminal and has seen its material adopted by Korean shipbuilders for LNG fuel tank manufacturing.

A key factor in HMS's growing success has been the attainment of crucial international certifications. Following standardization by the American Society for Testing and Materials and the American Petroleum Institute, the International Maritime Organization recently approved HMS for use in LNG and ammonia tanks on ships. This milestone opens doors for POSCO to export its innovative steel product to a global market eager for cost-effective and reliable solutions for alternative fuel storage.

Beyond LNG, POSCO is exploring the potential of HMS in diverse applications, including slurry pipelines, where its abrasion resistance offers significant advantages, and naval vessels, where its non-magnetic properties enhance stealth capabilities.

Looking ahead, POSCO aims to position HMS as a key material in the transition to a low-carbon economy. The company envisions HMS playing a vital role in the storage and transport of a broader range of alternative fuels, including liquefied ammonia and hydrogen.

POSCO's success with HMS is a testament to its commitment to technological innovation. Chairman Chang In-hwa's emphasis on developing cutting-edge materials and the recent appointment of Lee Hee-geun, a technology expert, as CEO signal a clear focus on leveraging technology to overcome industry challenges and drive future growth.