Chairman Chung Eui-sun's First Official Move: 'Hydrogen Council'... Discussing Hydrogen Refueling Stations for Commercial Vehicles

[Asia Economy Reporters Suyeon Woo and Jihee Kim] The first external activity of Chung Euisun, Chairman of Hyundai Motor Group, after his inauguration was indeed 'hydrogen.' At the inauguration ceremony, Chairman Chung emphasized the group's vision to play a leading role in realizing the hydrogen economy and has begun working with the government to establish measures for building a hydrogen ecosystem.

On the 15th, Chairman Chung attended the 2nd Hydrogen Economy Committee held at the Government Seoul Office in Jongno-gu, Seoul. Choosing the 'Hydrogen Economy Committee' as his first official activity after being formally inaugurated as Hyundai Motor Group Chairman the previous day reflects Chairman Chung's strong determination to realize a hydrogen economy society.

Launched in July and having held its first meeting, the Hydrogen Economy Committee is a control tower for the hydrogen economy chaired by the Prime Minister and includes eight related government ministries such as the Ministry of Trade, Industry and Energy, the Ministry of Economy and Finance, and the Ministry of the Interior and Safety, along with private sector experts from various fields. Chairman Chung was appointed as a private member and has been providing diverse opinions related to the hydrogen energy business. Arriving at the Government Seoul Office around 10 a.m. in Hyundai’s hydrogen electric vehicle Nexo, Chairman Chung reportedly reiterated his commitment to the development and distribution of hydrogen commercial vehicles equipped with next-generation fuel cell system technology during the committee meeting.

Prime Minister Chung Sye-kyun and Hyundai Motor Group Chairman Chung Eui-sun are shaking hands at the '2nd Hydrogen Economy Committee' held at the Government Seoul Office in Jongno-gu, Seoul on the 15th. Photo by Kang Jin-hyung aymsdream@

Prior to the meeting, Hyundai Motor Group signed a memorandum of understanding to establish a Special Purpose Company (SPC) for the construction and operation of hydrogen charging stations for commercial vehicles in cooperation with the government, local governments, and the energy industry. The signing ceremony was attended by Prime Minister Chung Sye-kyun, Minister of Trade, Industry and Energy Sung Yun-mo, Minister of Environment Cho Myung-rae, officials from various local governments, and representatives from energy companies.

This agreement, linked to the 2nd Hydrogen Economy Committee, was promoted with mutual recognition between the public and private sectors of the necessity to build hydrogen charging infrastructure for commercial hydrogen electric vehicles. The plan is to establish the SPC 'Kohygen' by February next year, install hydrogen charging stations for commercial vehicles, and activate hydrogen energy distribution through joint public-private operation of the charging stations.

Initially, by 2021, ten gaseous hydrogen charging stations for commercial vehicles will be installed across the country, and by 2023, more than 25 additional liquid hydrogen charging stations will be added. Particularly, the liquid hydrogen charging stations that 'Kohygen' is focusing on have the advantage of reducing the volume of hydrogen fuel to one eight-hundredth compared to existing gaseous stations. This will enable the establishment of charging stations even in small urban locations and is expected to offer excellent storage efficiency, allowing for large-capacity hydrogen charging.

Through this agreement, the government will be responsible for policy and financial support for the distribution of hydrogen buses and trucks, while local governments will provide sites for hydrogen charging stations and offer administrative support. Additionally, seven energy companies participating in 'Kohygen' alongside Hyundai Motor, including Korea District Heating Corporation, SK Energy, GS Caltex, S-Oil, Hyundai Oilbank, SK Gas, and E1, are considering building integrated hydrogen charging stations utilizing existing gas station infrastructure.

The shareholder participants of 'Kohygen' plan to form an establishment committee within this month, select financial investors, and then finalize additional participants. The official launch is scheduled to be completed by at least February next year, with efforts to expedite the construction of hydrogen charging infrastructure.

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