Hyundai Motor Securities Signs MOU for 1.5 Trillion KRW Hydrogen Economy City Transition

[Asia Economy Reporter Park Jihwan] Hyundai Motor Securities announced on the 10th that it has signed a memorandum of understanding (MOU) with the Ministry of Environment, Chungnam Province, Nonsan City, and Lotte Construction for the transition to a hydrogen economy city worth 1.5 trillion KRW.

Hyundai Motor Securities will provide professional capabilities as a financial company for the project to respond to the climate crisis and transition to a hydrogen economy city for carbon neutrality. It also plans to support the establishment of renewable energy infrastructure.

This MOU aims to create an eco-friendly hydrogen economy ecosystem and accelerate the development of new technologies by investing about 1.5 trillion KRW in energy infrastructure such as △hydrogen fuel cell power plants △hydrogen charging stations △smart farms △resource recycling hydrogen production.

Choi Byungchul, CEO of Hyundai Motor Securities, said, "As a securities company, we will maximize our professional capabilities such as financial advisory and underwriting to open the door wide for the co-growth of Nonsan City and Hyundai Motor Securities and carbon neutrality."

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