Chairman Chung Eui-sun: "H2 Business Summit Will Contribute to the Development of the Hydrogen Economy"

Hyundai Motor Group Chairman Chung Eui-sun is attending the '2021 Hydrogen Mobility+ Show' held on the 8th at KINTEX in Goyang, Gyeonggi Province. Photo by Kang Jin-hyung, Goyang aymsdream@

[Asia Economy Reporter Changhwan Lee] The Korea H2 Business Summit, a hydrogen business council aimed at revitalizing the hydrogen economy and achieving carbon neutrality, has been established.

The H2 Business Summit, composed of 15 member companies leading the domestic hydrogen economy, held its inaugural general meeting and officially launched on the 8th at KINTEX Exhibition Hall 2 in Ilsan, with CEOs and company representatives from each member company in attendance.

The 15 member companies are Hyundai Motor Group, SK Group, POSCO Group, Lotte Group, Hanwha Group, GS Group, Hyundai Heavy Industries Group, Doosan Group, Hyosung Group, Kolon Group, Isu Group, Iljin Group, E1, Korea Zinc, and Samsung C&T.

Hyundai Motor Group, which has played a pivotal role in establishing the council, will serve as co-chair to lead the organization. In particular, Hyundai Motor Group Chairman Chung Euisun played an important role in the launch of the hydrogen business council by formalizing its establishment through discussions with SK Group, POSCO Group, and Hyosung Group.

At the inaugural general meeting, Chairman Chung said, "Although Korea's hydrogen industry ecosystem has developed more slowly compared to Europe and Japan, I am confident that our companies, which have global competitiveness across all industrial sectors, can achieve this as well."

He added, "I hope the Korea H2 Business Summit will serve as a leading platform that not only enhances the competitiveness of individual companies but also integrates companies, policies, and finance to improve the completeness and competitiveness of the hydrogen industry ecosystem and contribute to the development of the hydrogen economy."

Hyundai Motor Group is recognized globally as a leader in hydrogen-related technologies, driving the hydrogen paradigm.

Hyundai Motor Group held an online event called 'Hydrogen Wave' the day before, announcing its intention to make 2040 the inaugural year of hydrogen energy popularization.

The company explained that Hydrogen Wave is Hyundai Motor Group's first global hydrogen-related event, symbolizing a wave of major change to shift the energy paradigm for humanity's sustainability and to realize a hydrogen society early.

Chairman Chung said, "The future hydrogen society vision that Hyundai Motor Group dreams of is to enable hydrogen energy to be used by 'Everyone, Everything, Everywhere,'" adding, "We aim to achieve this hydrogen society by 2040."

He continued, "To accelerate the realization of a hydrogen society, all commercial new models to be released in the future will be either hydrogen fuel cell vehicles or electric vehicles, and by 2028, hydrogen fuel cell systems will be applied to all commercial vehicle lineups," announcing, "To this end, we will introduce hydrogen fuel cell systems that reduce cost and volume while significantly improving durability and output."

To achieve this, Hyundai Motor Group will prioritize the popularization of hydrogen fuel cell commercial vehicles and expand the application of hydrogen fuel cells beyond automobiles to various fields. The group will promote business across the entire hydrogen value chain, including production, supply, storage, and transportation, centered on its major affiliates. Through this, it plans to materialize the hydrogen value chain and create a new paradigm.

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