Gas Corporation and Hyundai Motor Join Hands for Hydrogen Economy... "Launching Converged Charging Stations and Commercial Vehicles"

Gas Gong·Hyundai Motor Group Strengthen Hydrogen Business Cooperation
Joint Project to Secure Business Competitiveness and Expand Infrastructure

On the 1st, the 'Hydrogen Mobility+ Show' was held at KINTEX in Goyang-si, Gyeonggi-do. / Goyang = Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Moon Chaeseok] Korea Gas Corporation and Hyundai Motor Group have joined forces to boost South Korea's hydrogen economy. They will develop joint projects to build and operate converged-type hydrogen charging stations and expand the supply of commercial hydrogen electric vehicles.

On the 14th, the corporation announced that it signed a "Business Agreement for Securing Competitiveness in the Hydrogen Business and Expanding Sustainable Hydrogen Infrastructure" with Hyundai Motor Group at the Millennium Hilton Hotel in Jung-gu, Seoul.

The event was attended by Cha Hee-bong, President of the corporation, and Ji Young-jo, President of Hyundai Motor Group (Head of Strategy and Technology Division), along with other officials from both companies.

The government has launched the Green Hydrogen Overseas Business Unit to focus on importing clean hydrogen from abroad and expanding hydrogen infrastructure.

On the 1st, the Hydrogen Economy Committee was established, and the "Basic Plan for the Hydrogen Economy" was formulated, implemented, monitored, and evaluated.

Through this, major policies are being promoted to advance South Korea as a leading country in the hydrogen economy by fostering international cooperation and building an ecosystem.

Under this agreement, both parties will discover joint projects to create an ecosystem covering the entire hydrogen infrastructure in line with government policies.

They plan to establish a joint venture company to build and operate converged-type charging stations. These stations include various functions such as hydrogen production, charging, sales, and fuel cell power generation.

By extracting hydrogen directly from natural gas, they aim to significantly reduce the sales cost, and hydrogen remaining after charging can be sold externally or used for fuel cell power generation to generate additional revenue. This is expected to greatly enhance economic feasibility.

Additionally, both companies plan to actively respond to the demand for building charging infrastructure necessary to expand the supply of commercial hydrogen electric vehicles, such as hydrogen electric buses.

President Cha said, "We will strengthen cooperation with Hyundai Motor Group in the hydrogen sector and make proactive investments in the hydrogen business value chain. Based on the joint business platform, we will advance not only domestically but also overseas, becoming a global hydrogen specialist company contributing to the creation of a hydrogen economy society."

President Ji also said, "Let us join forces as representatives of the public and private sectors to more rapidly establish the hydrogen ecosystem and expand the foundational infrastructure, creating an opportunity to strengthen the competitiveness of South Korea's hydrogen business."

This content was produced with the assistance of AI translation services.