Dongkuk Steel Mill Co., South Korea's third-largest steelmaker, said Tuesday it has succeeded in commercializing cryogenic flexible steel for making liquefied natural gas (LNG) storage tanks.
The successful commercialization caps three years of research and development, and it has passed a cryogenic tension test by global certifier Luxemburg Institute Science and Technology, Dongkuk Steel Mill said.
The product, dubbed DK-CryoFlex BAR, can withstand temperatures as low as minus 170 C and is used mainly for LNG storage facilities.
Dongkuk Steel said its factory in the western port city of Incheon will turn out the new cryogenic flexible steel.
The steelmaker forecast demand for cryogenic steel products to expand down the road on the wider use of LNG and renewable energy sources in line with a growing trend of environmental, social and corporate governance (ESG) management.
Dongkuk Steel said it will continue to expand sales of high-end steel products such as cryogenic steel, earthquake-resistant steel bars and special steel plates.