Samsung C&T to Promote Overseas Clean Hydrogen Supply Chain Development Project

Signing of MOU with Namhae Chemical and Nambu Power for Clean Hydrogen Introduction and Utilization

Samsung C&T Corporation's Trading Division signed a business agreement (MOU) on the 27th with Namhae Chemical and Korea South-East Power to introduce and utilize clean hydrogen.

Photo by Samsung C&T Corporation

[Asia Economy Reporter Ki-min Lee] Samsung C&T is entering a business to supply overseas clean hydrogen to Korea.

Samsung C&T's trading division announced on the 27th that it signed a Memorandum of Understanding (MOU) with Namhae Chemical and Korea Southern Power to introduce and utilize clean hydrogen.

Samsung C&T explained that this MOU was signed with the purpose of responding to the government's 2050 carbon neutrality realization and hydrogen economy activation policies by introducing eco-friendly fuels such as clean hydrogen and clean ammonia to Korea Southern Power and cooperating to establish an overseas clean hydrogen supply chain. Samsung C&T plans to actively pursue growth by discovering new business models in promising fields such as eco-friendly and digital sectors where new ecosystems are being formed.

Samsung C&T will take on the role of developing an overall business model from overseas clean hydrogen production project development to domestic introduction and utilization. Namhae Chemical will provide supply infrastructure such as ammonia storage tanks for demonstration projects involving the transportation, conversion, and utilization of clean ammonia. Korea Southern Power will also provide existing power generation infrastructure for demonstration projects and cooperate in developing production projects to secure overseas clean hydrogen and clean ammonia.

Samsung C&T plans to strengthen cooperative relationships in the hydrogen sector based on its experience of joint projects with the companies it signed the MOU with.

So far, Samsung C&T has been selling fertilizer products produced by Namhae Chemical overseas. In June, they signed a bilateral MOU to promote domestic hydrogen business.

With Korea Southern Power, they carried out the Chile Kella combined cycle power plant construction project. In 2013, they became the first Korean company to win a South American private power generation project and successfully completed it in 2017, establishing a foothold for Korean companies to enter the Central and South American power and plant market.

A Samsung C&T official said, "We will strive to discover new businesses in the hydrogen sector to lay the foundation for sustainable growth and increase social contribution."

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