Samsung C&T and Kospo sign MOU on clean hydrogen

Industry

Published: 27 Aug. 2021, 16:01

Samsung C&T and Kospo sign MOU on clean hydrogen

From left: Samsung C&T's Trading and Investment Group CEO Koh Jung-suk, Korea Southern Power CEO Lee Seung-woo and Namhae Chemical CEO Ha Hyung-soo pose for a photo after signing a memorandum of understanding on Friday. [SAMSUNG C&T]

The Trading and Investment Group of Samsung C&T signed a memorandum of understanding (MOU) Friday with Namhae Chemical and Korea Southern Power (Kospo) to import and utilize clean hydrogen.

Clean hydrogen is a type of hydrogen that doesn’t emit greenhouse gases. According to Samsung C&T, the MOU was signed in line with the government’s plans to achieve carbon neutrality by 2050.

Samsung C&T will be responsible for developing a business model for producing clean hydrogen abroad, importing it to Korea and utilizing it.

Namhae Chemical will provide supply chain infrastructure, such as ammonia storage tanks, to transfer and convert carbon-free clean ammonia, a substance extracted from clean hydrogen. The company will help to map out safety regulations and qualification standards for clean ammonia.

Kospo will provide power generation infrastructure and help develop production sites abroad to secure clean hydrogen and ammonia.

Samsung C&T announced it will develop business models in newly rising fields, such as the environmental and digital sectors.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]