Shinhan Financial GIB Division Signs Business Agreement for Hydrogen Charging Station Project

[Asia Economy Reporter Jo Gang-wook] Shinhan Financial Group's GIB Business Division announced on the 23rd that on the 20th, it signed a business agreement with major energy companies including Korea District Heating Corporation, Hyundai Motor Company, SK Energy, GS Caltex, S-Oil, Hyundai Oilbank, SK Gas, and E1 at Hyundai Motorstudio in Gangnam-gu, Seoul, to establish 'Kohygen (Korea Hydrogen Energy Network),' a hydrogen charging station construction and operation business.

'Kohygen' is a special purpose corporation being promoted through cooperation between the government, Hyundai Motor Company, and other public and private sectors to build and operate hydrogen charging stations. Scheduled to officially launch in February next year, 'Kohygen' aims to install 10 gaseous hydrogen charging stations for commercial vehicles nationwide and more than 25 liquefied hydrogen charging stations in 2023.

Shinhan Financial GIB Business Division was selected as the preferred negotiator in October as a consortium with Energy Innovation Partners in the bid to select financial investors for the 'Kohygen' project.

Through this agreement, the participating companies plan to form a founding committee to promote the establishment of the special purpose corporation and discuss the preparation of corporate bylaws, business feasibility analysis, business plan development, and capital procurement methods.

A Shinhan Financial official stated, "We plan to continue leading various projects in the renewable energy sector in response to the government's Green New Deal policy and set a new standard for eco-friendly finance."

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