Korea made its debut at the Group of 7, or G7, summit hosted by Britain earlier this month, which was not only an opportunity to elevate the country’s global standing but also to strengthen bilateral economic ties with participating nations.
Hyundai Motor on Monday said it signed a memorandum of understanding (MOU) with London-based chemical company Ineos as it continues to seek out new partnerships to expand its hydrogen mobility business.
Investors are bullish on Hyundai Motor and its affiliates, betting that the group's sales will recover from the Covid-19 pandemic.
Korea formally opened the world's first byproduct hydrogen power plant, which uses gas produced in the processing of petrochemicals. The plant is rated at 50 megawatts and will produce enough electricity to supply 160,000 households.
Korea Gas Corporation (Kogas) is making an effort to prepare for the upcoming era of hydrogen economy with its 4,908 kilometer (3,050 mile) long gas pipelines and 411 supply management centers across the nation.