The mass production of steel is inevitably accompanied by large quantities of slags. The treatment of ironmaking and steelmaking slags is a great challenge in the sustainable development of the steel industry. Japan and China are two major steel producing countries that have placed a large emphasis on developing new technologies to decrease slag emission or promote slag valorization. Slags are almost com-pletely reused or recycled in Japan. However, due to stagnant infrastructural investments, future applications of slags in conventional sectors are expected to be difficult. Exploring new functions or applications of slags has become a research priority in Japan. For example, the utiliza-tion of steelmaking slags in offshore seabeds to create marine forests is under development. China is the top steel producer in the world. The utilization ratios of ironmaking and steelmaking slags have risen steadily in recent years, driven largely by technological advances. For ex-ample, hot stage processing of slags for materials as well as heat recovery techniques has been widely applied in steel plants with good results. However, increasing the utilization ratio of basic oxygen furnace slags remains a major challenge. Technological innovations in slag recycling are crucial for the steel industries in Japan and China. Here, the current status and developing trends of utilization technologies of slags in both countries are reviewed.