The South Korean government has given the green light to a KRW 814.6 billion feasibility study for hydrogen-based steelmaking, signaling a significant step towards a more sustainable and environmentally friendly steel industry. The project, scheduled to run from 2026 to 2030, will receive KRW 308.8 billion in government funding and involves the collaboration of industry, academia, and research institutions. A key component of the project is the construction of a demonstration plant with a capacity of 300,000 tons per year, focusing on producing low-carbon iron and steel by utilizing hydrogen and iron ore fines. This innovative approach also explores the use of hydrogen-reduced iron in electric arc furnaces, particularly benefiting small and medium-sized enterprises in the steel sector. The project is built upon the proven success of the FINEX process developed by POSCO and Primetals Technologies, which allows for the direct utilization of iron ore fines and non-coking coal, leading to cost and emission reductions. South Korea's commitment to green steelmaking follows Japan's lead in establishing national funding for environmentally friendly steel production. Despite the current challenges posed by high costs, the South Korean government is determined to provide additional support to ensure a steady and successful transition towards greener steelmaking practices. This initiative highlights the importance of sustainable development and collaboration across various sectors to drive positive changes in the steel industry.