POSCO Chairman Jang In-hwa Expands Global Steel Alliances During Key Australia Visit
In an effort to fortify POSCO Group’s steel competitiveness and enhance the energy value chain, Jang In-hwa, the chairman of POSCO Group, made a pivotal visit to Australia from April 7th to 9th, 2025. This visit comes at a critical time for the global steel industry, where challenges around sustainability, carbon emissions, and energy sourcing continue to rise. The move is also seen as part of POSCO’s ongoing strategy to navigate uncertainties in the steel market and solidify its international partnerships.
World Steel Association Meeting in Sydney
The cornerstone of Chairman Jang’s trip was his participation in the World Steel Association's first-half regular meeting, held in Sydney on April 7th, 2025. This gathering brought together representatives from global steel companies to discuss industry challenges, including sustainability efforts and the development of low-carbon steel production processes. Jang engaged in discussions with steel leaders from around the world, particularly focusing on POSCO’s operations, such as the integrated steel mill in India, and potential technological collaboration.
During the meeting, Jang emphasized the importance of international cooperation to drive carbon reduction technologies within the steel industry. He stated, "As global steel companies are working on developing various carbon reduction technologies, collaboration among these companies should be expanded to develop low-carbon steel production processes, reduce carbon, and increase future demand."
Discussions also revolved around carbon emission measurement standards, with a focus on establishing global guidelines to ensure uniformity across the industry. Given the growing importance of environmental regulations and the steel industry's significant carbon footprint, this collaboration is essential for meeting global climate goals and improving the environmental impact of steel production.
Strengthening Partnerships with Global Steel Leaders
Beyond the conference, Jang held key meetings with representatives from major global steel companies to explore potential joint ventures and business collaborations. On April 7th, he engaged in a meeting with Jayant Acharya, the president of JSW Steel from India, to discuss joint projects, particularly in relation to integrated steel mills. This partnership could pave the way for more efficient and technologically advanced steel manufacturing between the two companies, enhancing their global footprint.
Jang also met with Liu Jian, the co-president of Hagang Group, based in China, to discuss deepening their cooperation on joint ventures within China’s steel market. This collaboration is expected to open up new avenues for technology exchange and operational synergies between the two companies, benefiting both parties in terms of production efficiency and sustainability.
Visit to Senex Energy and Gas Field Expansion
One of the key highlights of Chairman Jang’s visit was his inspection of Senex Energy’s onshore gas field in Queensland, Australia, on April 9th. This visit was particularly significant as POSCO International had acquired Senex Energy in 2022 for approximately 400 billion won. The acquisition represents a strategic move for POSCO Group to expand its energy business and further integrate the steel and energy sectors.
Senex Energy is undertaking a project to expand its natural gas production from 20 PJ (petajoules) to 60 PJ by 2026. This increase in production will enable the company to supply approximately 10% of the natural gas demand in the eastern Australia region. The expansion project also holds immense importance for POSCO’s business, as it will provide a reliable and sustainable energy source for its steel production facilities, particularly as the company transitions towards lower-carbon and more energy-efficient technologies.
Once completed, the gas development is expected to provide 1.2 million metric tons of LNG per year, which will not only boost POSCO's energy resilience but also align with its goals of fostering a greener, low-carbon future.
POSCO’s Commitment to Sustainability
POSCO's participation in the World Steel Association meeting and its ongoing commitment to carbon reduction and sustainability has been recognized at the international level. In fact, POSCO was selected as a Sustainability Champion for the fourth consecutive year at the World Steel Association's members' meeting, underscoring the company's dedication to advancing sustainable steelmaking practices.
Chairman Jang’s trip to Australia reflects POSCO’s proactive stance in addressing global environmental challenges, particularly its efforts to integrate more low-carbon technologies and pursue collaborative innovation in the steel sector.
Key Takeaways:
• POSCO Chairman Jang In-hwa visited Australia from April 7th to 9th, 2025 to strengthen steel business competitiveness and expand energy value chain collaborations.
• At the World Steel Association meeting, Jang emphasized the importance of global cooperation in developing low-carbon steel production technologies and reducing carbon emissions across the industry.
• Jang In-hwa met with JSW Steel president Jayant Acharya to discuss joint ventures for integrated steel mills and explored further collaboration with Hagang Group in China.
• The visit also included a tour of Senex Energy's onshore gas field in Queensland, Australia, where POSCO is expanding its natural gas operations to supply 10% of the region's gas demand by 2026.
• POSCO is enhancing its energy resilience by increasing its natural gas production, which will also help supply 1.2 million metric tons of LNG per year.
• POSCO was recognized as a Sustainability Champion for the fourth consecutive year at the World Steel Association’s meeting, reinforcing its commitment to environmental sustainability in the steel industry.
POSCO’s global steel collaboration and commitment to sustainability reflect a larger strategic vision to build a resilient, low-carbon future for both the steel and energy industries.
