South Korea's leading steelmaker POSCO has won an environmental certificate for its corrosion-resistant steel product from a US authentication agency, industry sources said Friday.
The product, named Posco magnesium alloy coating, obtained an environmental product declaration from the environment division of the certification agency Underwriters Laboratories.
An EPD is an independently verified and registered document that communicates transparent and comparable information about the life-cycle environmental impact of products, including production, use and disposal.
The certificate is widely deemed a prerequisite for tapping the global market since its certification requirements comply with rules set by the International Organization for Standardization.
PosMAC is five times more resistant to corrosion than standard galvanized steel, as well as more cost-effective. It is especially popular as the material used in solar panel structures, which should be built with corrosion-resistant materials as they are exposed outdoors for long hours.
A company official said the eco-friendly steel product will likely help POSCO cement its leading position in the related market.
"PosMAC will have a competitive edge in terms of ecofriendliness because its resistance to corrosion reduces the need for making steel for reconstruction and thus cuts back on emissions of greenhouse gases and other pollutants," he said.
POSCO recently struck a supply deal with NEXTracker, the world's largest designer and builder of single-axis photovoltaic trackers. (Yonhap)