Korea is one of a number of countries across the East Asian region where the steel sector is facing a pivotal moment, this is the first in a series of reports where we examine the opportunities for countries to reinforce the foundations of their industrial strength.
Steel’s transformation | Korean report 2026 | English download
철강 산업의 대전환 | Korean report 2026 | Korean download
Korea is one of a number of countries across the East Asian region where the steel sector is facing a pivotal moment, this is the first in a series of reports where we examine the opportunities for countries to reinforce the foundations of their industrial strength.
Carbon-conditioned trade is arriving fast: the EU’s Carbon Boarder Adjustment Mechanism (CBAM) will place around $7.7 bn of Korean exports under a carbon cost when it extends to vehicles and machinery from 2028. As more markets follow, more Korean exports will face carbon-conditioned access, with high-carbon blast furnace steel most exposed. Meanwhile, China is undertaking the largest shift to hydrogen-based steel making of any country – more than 10 Mtpa under way.
The transition to clean steel opens up a real opportunity for Korea, one larger than it appears. This report explores the emerging opportunities created by low-carbon pathways for the Korean steel industry: where the largest new value pools; how Korea can take advantage of the shifting plates of global trade and how to ensure clean jobs and prosperity are safeguarded.
Korea is one of a number of countries across the East Asian region where the steel sector is facing a pivotal moment, this is the first in a series of reports where we examine the opportunities for countries to reinforce the foundations of their industrial strength.
Steel’s transformation | Korean report 2026 | English download
철강 산업의 대전환 | Korean report 2026 | Korean download
Mission Possible Partnership | MPP
Mission Possible Partnership (MPP) is an independent non-profit organisation advancing global clean industry transformation. Since 2019, we have been working with some of the most energy-intensive industries: aluminium, aviation, cement, chemicals, shipping and steel, to cut their nearly 25% of global GHG emissions.
We mobilise business, finance, government and civil society leaders to speed up the shift to clean materials, chemicals and fuels. Having charted sectoral pathways to net-zero, we continue to forge new territory, lifting the barriers to enable a critical mass of clean industrial projects to break ground by 2030.
Mission Possible Partnership has people and partners on the ground in North America, Brazil, Europe, the Middle East, North Africa, India and Asia Pacific.
Industrial Transition Accelerator | ITA
The ITA is a global multi-stakeholder platform -managed by Mission Possible Partnership – to fast-track decarbonisation across heavy-emitting industry and transport sectors. It aims to significantly grow the pipeline of commercial-scale, clean industrial projects to reduce emissions by 2030.
Build Clean Now | BCN
Build Clean Now is a global campaign bringing together governments, companies and finance to accelerate the pace at which clean industrial projects are financed and built, year-on-year. It is led by the Industrial Transition Accelerator (ITA) and Mission Possible Partnership (MPP).
Kassø, in southern Denmark, is now home to one of the world’s first operational e-methanol facilities, producing 42,000 tonnes per year from a 304 MW solar park, a 52 MW electrolyser and biogenic CO₂ captured from a local biogas facility. It reached FID in January 2022 without operating subsidies and started operations in 2025.
The flagship project demonstrates a pathway for building green ammonia facilities, with its repurposed brownfield site, access to round-the-clock green power and a lower cost of capital because of its location in India. It also shows the importance of thinking about the entire value chain when looking at the viability of clean industry projects – not just end customers but suppliers as well.
Tracker maps announcements, final investment decisions and operations of net-zero-aligned projects across critical industrial sectors globally. The pipeline is growing, but rapid acceleration is needed. MPP urges collective action by governments, companies, and financial institutions to unlock investment barriers and fast-track progress.
VISIT | Global Project Tracker
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