Korean Hydrogen Council... Gathering in One Place This Week

Hyundai Motor, SK, POSCO, Hyosung and Other Major Companies Meet to Officially Launch the Hydrogen Council

From the left, Cho Hyun-joon, Chairman of Hyosung Group; Choi Jeong-woo, Chairman of POSCO Group; Choi Tae-won, Chairman of SK Group; and Chung Eui-sun, Chairman of Hyundai Motor Group met on June 10 at the Hyundai Kia Technical Research Center in Hwaseong, Gyeonggi Province to discuss the establishment of a hydrogen enterprise consortium.

[Asia Economy Reporter Changhwan Lee] Domestic companies aiming to grow hydrogen-related businesses as future growth engines will gather in one place this week.

According to the industry on the 5th, domestic hydrogen investment companies such as Hyundai Motor Group, POSCO Group, Hyundai Heavy Industries Group, SK Group, Doosan Group, Hyosung Group, and Kolon Group will participate in the Hydrogen Mobility Plus (+) Show, which opens on the 8th at KINTEX in Ilsan.

During the Hydrogen Mobility Plus (+) Show, they will hold the 'H2 Business Summit' and officially launch the Hydrogen Business Council.

The Hydrogen Business Council will operate as a CEO-level consultative body. Through regular general meetings and forums, it is expected to play a key role in promoting domestic corporate investment and expanding the hydrogen industry value chain to realize a hydrogen society.

Looking at the progress by company, Hyundai Motor Group was the first in the world to mass-produce hydrogen electric vehicles in 2013 and has set a goal to produce 500,000 hydrogen electric vehicles and 700,000 hydrogen fuel cell systems annually by 2030. To achieve this, it plans to invest 11.1 trillion KRW by 2030 in hydrogen vehicle facility investments, research and development (R&D), and charging station installations.

Before the launch of the council, Hyundai Motor Group plans to hold an online event called 'Hydrogen Wave' on the 7th, showcasing the group's hydrogen-related capabilities, including core hydrogen technologies accumulated over 23 years, future hydrogen business strategies, future hydrogen mobility, and next-generation fuel cell systems.

SK Group established a dedicated hydrogen business organization, the Hydrogen Business Promotion Team, at the end of last year and plans to invest 18.5 trillion KRW over five years to build a domestic hydrogen ecosystem. Their goal is to establish a value chain covering hydrogen production, distribution, and consumption by 2025 and become the world's number one hydrogen company.

POSCO, under the vision of being a 'leading green hydrogen company driving the hydrogen economy,' aims to make hydrogen business a new growth engine and plans to produce 5 million tons of green hydrogen and achieve hydrogen sales of 30 trillion KRW by 2050.

Hyosung is promoting the establishment of a value chain from hydrogen production to supply. Hyosung plans to invest 1 trillion KRW over the next five years to increase its liquefied hydrogen production capacity to 39,000 tons per year.

Hanwha Group is actively investing in the green hydrogen sector, producing hydrogen from renewable energy sources such as solar and wind power. Hanwha Solutions' Hydrogen Technology Research Center is developing next-generation 'Anion Exchange Membrane Electrolysis Cell (AEMEC)' technology, which overcomes the high power consumption drawbacks of existing water electrolysis technology. They also acquired the U.S. high-pressure tank company Cimarron.

Kolon has declared its ambition to provide integrated core material solutions in the hydrogen market based on its technology that simultaneously produces the world's number one moisture control devices, and the only domestic membrane electrode assemblies (MEA) and polymer electrolyte membranes (PEM). Their goal is to achieve 1 trillion KRW in hydrogen-related business sales by 2030.

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