Hyundai Motor Group, SK, and POSCO to Establish CEO Council 'Korean Hydrogen Commission'

Joint Promotion of Conversion to 1,500 Hydrogen Electric Vehicles and Expansion of Ultra-Fast Electric Vehicle Charging Infrastructure

[Asia Economy Reporter Yu Je-hoon] Hyundai Motor Group and SK Group are strengthening multifaceted cooperation in the hydrogen business sector. The two companies are officially embarking on building a hydrogen economy ecosystem, including the establishment of the "K-Hydrogen Council," in addition to hydrogen fuel cell vehicle and charging infrastructure development.

On the afternoon of the 2nd, ahead of the 3rd Hydrogen Economy Committee held at SK Incheon Petrochem in Seo-gu, Incheon, key executives including Hyundai Motor Group Chairman Chung Eui-sun and SK Group Chairman Chey Tae-won held a meeting to discuss expanding the hydrogen ecosystem.

In addition to the CEOs of both companies, the meeting was attended by key executives such as Hyundai Motor President Gong Young-woon and Jang Jae-hoon, Hyundai Mobis President Cho Sung-hwan, Hyundai Motor Vice President Kim Se-hoon, SK Inc. President Jang Dong-hyun, SK E&S President Chu Hyung-wook, and SK Incheon Petrochem President Choi Yoon-seok.

The two groups first plan to discover various business models to expand the supply of hydrogen fuel cell vehicles. Hyundai Motor will gradually replace about 1,500 vehicles currently operated at SK Group business sites with hydrogen fuel cell vehicles produced by Hyundai, and they discussed plans for Hyundai Motor Group to provide hydrogen commercial vehicles such as hydrogen cargo trucks (scheduled for 2022) and hydrogen tractors (scheduled for 2024) for SK Group's use.

They will also jointly promote the construction of ultra-fast electric vehicle charging infrastructure. By the end of this year, hydrogen charging stations for commercial vehicles will be installed at SK Natruck House, a logistics service hub in Incheon and Ulsan, with one station each, and they will continue to discuss specific cooperation plans to install hydrogen chargers at SK gas stations nationwide. Additionally, they discussed plans to install fast chargers (200 kW class) for electric vehicles at SK gas stations.

Furthermore, the two groups, together with POSCO Group, plan to establish the Korean version of the Hydrogen Council, a CEO consultative body for hydrogen business cooperation among domestic companies, within the first half of the year. Hyundai Motor recently cooperated with POSCO on hydrogen-related technology development, and SK Group has discussed multifaceted cooperation plans, aiming to build a comprehensive cooperation system related to the hydrogen industry beyond individual companies.

Hyundai Motor Group explained, "(Collaboration with major hydrogen-related companies) is because we agree that hydrogen is key to achieving carbon neutrality and believe that true realization of a hydrogen society is only possible through comprehensive cooperation that transcends individual companies and covers all sectors."

Prior to this, the two companies have been strengthening cooperation in the eco-friendly vehicle sector, including selecting SK Innovation as the primary battery supplier for Hyundai Motor and Kia's dedicated electric vehicle platform E-GMP.

Hyundai Motor set a goal to produce 500,000 hydrogen fuel cell vehicles and 700,000 hydrogen fuel cell systems annually by 2030, starting with the world's first mass production of hydrogen fuel cell vehicles in 2013. SK Group also launched the Hydrogen Business Promotion Team in December last year and presented a blueprint to actively promote domestic hydrogen business and enter the global market.

Chairman Chung said, "Hydrogen is not only an energy source but can also be used as an energy storage medium, expected to serve as an energy currency in the carbon-neutral era," adding, "Through cooperation with SK Group, we will build a sound hydrogen ecosystem where hydrogen production, distribution, and utilization are organically connected, and take a step closer to realizing a hydrogen society through successful energy transition."

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