By Park Si-soo
POSCO has developed an advanced corrosion-resistant stainless steel for use in the construction of nuclear reactors.
It became the first Korean steelmaker to produce the high-value-added product for which demand is increasing globally.
The new steel product, branded SR-50A, will be used to build a nuclear reactor in the United Arab Emirates by Hyundai Heavy Industries, POSCO said in a statement Monday.
"Only a handful of steelmakers in Japan and Europe have produced the product," a POSCO spokeswoman said. "Our development of this product reflects POSCO's technological prowess and global competitiveness."
She said the product will help extend the lifespan of nuclear reactors that normally use salty sea water to cool down nuclear fuel rods.
SR-50A is produced at POSCO's mill in Pohang, North Gyeongsang Province.
The demand for corrosion-resistant stainless steel is on the rise, especially in the energy industry, the company said in the statement.
Besides nuclear reactors, corrosion-resisting stainless steel is widely used in fossil fuel-powered power plants and desalination facilities.