Government signs MOU with 4 companies to create liquid hydrogen supply chain

Industry

Published: 09 Nov. 2022, 18:00

Government signs MOU with 4 companies to create liquid hydrogen supply chain

Prime Minister Han Duck-soo, fifth from left, poses for a photo with representatives from the Ministry of Environment, the Ministry of Trade, Industry and Energy, Hyundai Motor, Hyosung, SK E&S, Hychangwon, the Ministry of Science and ICT, and the Ministry of Land, Infrastructure and Transport, during a signing ceremony held Wednesday in central Seoul. [SK E&S]

The government signed a memorandum of understanding (MOU) with four local companies to create a nationwide liquid hydrogen supply chain and expand the use of hydrogen vehicles starting next year, Wednesday.

The companies that signed the MOU are Hyundai Motor, SK E&S, Hyosung, and Hychangwon. On the government’s part, the Ministry of Industry, Trade and Energy, the Ministry of Science and ICT, the Ministry of Environment, and the Ministry of Land, Infrastructure and Transport took part.

The signing ceremony took place ahead of the Hydrogen Economy Meeting held that day, headed by Prime Minister Han Duck-soo.

SK E&S, a natural gas company, will produce and distribute liquid hydrogen with Hyosung and Hychangwon.

SK E&S is currently building a hydrogen plant in Incheon, with annual production capacity of 30,000 tons. The plant will begin operation in the latter half of 2023, according to the company.

SK Plug Hyverse — a 51:49 joint venture between SK E&S and New York-based Plug Power — is establishing about 40 hydrogen charging stations in Korea.

Hyundai Motor will strive to ensure stable production and supply of hydrogen fuel cell vehicles, such as fuel cell buses and trucks. The ministries will strengthen the administrative support in establishing the hydrogen supply chain.

Korea’s hydrogen supply chain has largely been using hydrogen in gas form, but the focus is going to be shifted to liquid hydrogen starting next year, said SK E&S. Liquid hydrogen is considered safer and more efficient in terms of storage and distribution.

“The MOU holds significance as the government, liquid hydrogen suppliers, and a carmaker came together to lay a foundation for making a progress in hydrogen storage and distribution,” said SK E&S CEO Choo Hyeong-wook.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]