Seobu Power, Hyundai Motor, LG Electronics, and Others Sign MOU to Foster Saemangeum Green Hydrogen Industry

Kim Byung-sook, President of Korea Western Power (third from the left), signed a memorandum of understanding for joint research to establish a green hydrogen value chain on the 19th with seven organizations, including the Saemangeum Development Authority, at the Dragon City Hotel in Yongsan-gu, Seoul.

[Asia Economy Reporter Kim Bo-kyung] Korea Western Power signed a Memorandum of Understanding (MOU) for joint research to establish a green hydrogen value chain on the 19th at Dragon City Hotel in Yongsan-gu, Seoul.

The agreement involved seven organizations: Saemangeum Development Agency, Saemangeum Development Corporation, Hyundai Motor Company, Hyundai Engineering, Hyundai Motor Securities, LG Electronics, and Hydrogen Energen.

A representative from Western Power stated, "We signed this agreement to actively respond to the government's hydrogen economy policy while promoting the expansion of green hydrogen, fostering related industries, and revitalizing the local economy in the Saemangeum area, a renewable energy power generation complex."

Western Power plans to start a feasibility study on projects linking renewable energy and hydrogen, including solar power generation, energy storage systems (ESS), hydrogen plants, water electrolysis facilities, and fuel cells, with the seven organizations, and then expand into large-scale projects through demonstration projects.

Kim Byung-sook, President of Western Power, said, "Based on this MOU, we will actively promote hydrogen-related projects led by the government," adding, "We will actively support sustainable development in cooperation with the Saemangeum local community."

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