ECOMAGIC Co., Ltd. And POSCO INTERNATIONAL Sign Exclusive Sales Agreement for Thailand on a Core Technology for Achieving Carbon Neutrality in the Petroleum Energy Sector

SEOUL, South Korea, May 12, 2025 /PRNewswire/ -- In an era of escalating climate crisis, the world is placing 'carbon neutrality' at the forefront of global discourse. Countries around the world have pledged to submit detailed action plans to the United Nations by establishing Long-Term Low Emission Development Strategies (LEDS) aimed at achieving carbon neutrality by 2050. They continue to make steady efforts by expanding the adoption of renewable energy and implementing various alternatives to reduce carbon emissions.

However, despite the global trend toward energy transition, the demand for petroleum as a major fossil fuel remains solid. In particular, because gasoline, which is the most widely used, has a boiling point of only 23°C, volatile organic compounds (VOCs) are inevitably released during storage and transportation. These VOCs contain carcinogens like benzene and toluene that can cause serious illnesses once they enter the human body.

In the midst of this challenge, a groundbreaking technology that reduces the emission of VOCs and carbon dioxide has been developed in South Korea. The company behind this innovation is ECOMAGIC Co., Ltd., recognized as a leading enterprise in the field of eco-friendly renewable energy and carbon reduction projects.

For the past 11 years, ECOMAGIC has been dedicated to developing the 'Vapor Liquefaction Treatment System', a technology that ensures gasoline can be used wisely, without threatening human life and instead contributing positively to the environment. Together with POSCO INTERNATIONAL, a company with a global network, ECOMAGIC has taken a significant step toward advancing carbon neutrality practices.

POSCO INTERNATIONAL is steadily developing greenhouse gas and carbon emission reduction projects in response to climate change and is moving forward with the goal of reinvesting corporate profits back into society through its ESG initiatives.

Interview with Mr. Wooho Kim, Head of POSCO INTERNATIONAL Thailand

1. We heard that you made significant efforts to introduce ECOMAGIC's Vapor Liquefaction Treatment System into the Thai market. Could you share the background behind it?

"POSCO INTERNATIONAL Thailand has been continuously monitoring the Thai government's efforts to strengthen environmental regulations and achieve carbon neutrality goals. In particular, vapor emissions generated during the storage and distribution of gasoline have become a major cause of air pollution and health issues, creating a clear need for effective solutions.

ECOMAGIC's Vapor Liquefaction Treatment System is an innovative product capable of addressing these challenges. It significantly reduces vapor emissions compared to conventional methods and helps prevent gasoline losses, offering notable economic benefits as well. As part of our strategy to strengthen ESG management and expand our sustainable energy business in the Thai market, POSCO INTERNATIONAL decided to actively promote the introduction and sales of this product."

2. What is your outlook on the market potential for vapor liquefaction recovery systems at gas stations in Thailand?

"Thailand is one of the major petroleum-consuming countries in ASEAN, with annual gasoline consumption exceeding 30 billion liters. As a result, vapor emissions generated during the gasoline distribution process have become a serious issue, and the Thai government is actively promoting various policies to reduce air pollution.

Major refiners and gas station operators in Thailand are strengthening their ESG management and showing strong interest in adopting new technologies aimed at improving energy efficiency and protecting the environment. In particular, vapor recovery and liquefaction technologies are effective in reducing fuel losses and responding to tightening environmental regulations, which suggests there will be strong demand in the Thai market moving forward.

POSCO INTERNATIONAL plans to strengthen collaboration with major gas stations and petroleum distributors in Thailand through its partnership with ECOMAGIC."

3. What other projects is POSCO INTERNATIONAL pursuing to support carbon neutrality? 

"As a global integrated business company, POSCO INTERNATIONAL is promoting a wide range of eco-friendly projects aimed at building a sustainable future.

We are contributing to reducing greenhouse gas emissions and accelerating the energy transition through solar and wind power generation, and supporting the shift to green energy by establishing supply chains for low-carbon hydrogen and eco-friendly ammonia.

In addition, we are advancing carbon emission reduction initiatives by utilizing carbon capture, utilization, and storage (CCUS) technologies, moving one step closer to achieving carbon neutrality.

Through these diverse ESG initiatives, POSCO INTERNATIONAL is committed to pursuing sustainable growth and will continue to strengthen its efforts toward carbon neutrality in both the Thai and global markets."