Chungnam, Nonsan to Establish 'Hydrogen Economy Hub'... 1.5 Trillion Won Investment by 2030

Hyun Byung-chul, CEO of Hyundai Motor Securities; Ha Seok-ju, CEO of Lotte Construction; Han Jeong-ae, Minister of Environment; Yang Seung-jo, Governor of Chungnam Province; and Hwang Myung-seon, Mayor of Nonsan (from left), are posing for a commemorative photo after signing an "Agreement for Transition to a Hydrogen Economy City" at Nonsan City Hall on the 10th. Provided by Chungnam Province

[Asia Economy (Hongseong) Reporter Jeong Il-woong] Chungnam Province is establishing a hydrogen economy infrastructure, including a hydrogen fuel cell power plant, in Nonsan.

On the 10th, the province announced that it signed a 'Business Agreement for the Transition to a Hydrogen Economy City in Nonsan' with Nonsan City, the Ministry of Environment, Lotte Construction, and Hyundai Motor Securities.

The agreement involves investing 1.5 trillion KRW of private capital to build an eco-friendly renewable energy generation hub, including a hydrogen fuel cell power plant and hydrogen charging stations, on public land in Nonsan City.

According to the agreement, Lotte Construction and Hyundai Motor Securities, as private entities, will establish a hydrogen economy ecosystem on public land in Nonsan City by 2030.

First, the hydrogen fuel cell power generation project will be promoted at Seongdong Nonsan General Industrial Complex (60 MW class), Defense Industrial Complex (40 MW), and Nonsan City public sewage treatment plant and small-scale industrial complexes. The total project cost is 1.19 trillion KRW.

The hydrogen charging station project will proceed with an investment of 16 billion KRW to build one hydrogen charging station for buses and two for passenger cars.

The smart farm project will focus on establishing 50 farms with a scale of 2 billion KRW, and ultimately, the province plans to link this with producing local specialties in the Nonsan area using renewable energy.

Yang Seung-jo, Governor of Chungnam Province, stated, “Chungnam will accelerate the transition to hydrogen energy to proactively address climate and environmental issues,” adding, “To that end, the province will closely cooperate with the agreement institutions and do its best to provide administrative support for corporate investment within the province.”

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