Samsung C&T and POSCO Sign Comprehensive MOU for Green Hydrogen Business Cooperation

Development of Overseas Green Hydrogen Production Facilities and Cooperation in Liquefied Hydrogen Technology Development

Samsung C&T and POSCO have agreed to strengthen domestic and international cooperation related to the green hydrogen business.

Samsung C&T's Construction Division announced on the 4th that it signed a memorandum of understanding (MOU) for comprehensive cooperation on the green hydrogen business with POSCO at Samsung C&T headquarters in Gangdong-gu, Seoul.

Accordingly, the two companies will join forces in developing overseas green hydrogen production facilities, building infrastructure for hydrogen storage and introduction, and developing technologies related to liquefied hydrogen.

Green hydrogen is an eco-friendly energy source with zero carbon dioxide emissions, which can be stored and transported as a liquid or high-pressure gas, making it a next-generation energy source for carbon neutrality.

Samsung C&T is preparing the green hydrogen business as one of its future growth pillars, while POSCO aims to establish a hydrogen production system of 5 million tons by 2050 to achieve carbon neutrality and transform into a green steel company.

Through this agreement, Samsung C&T and POSCO will focus their capabilities on the entire green hydrogen business process, from infrastructure construction for hydrogen production to utilization.

Samsung C&T will actively engage in business development for green hydrogen production based on its experience in global renewable energy projects, extensive business experience and capabilities in the Middle East?where it is strategically expanding the green hydrogen business?and its customer network.

Additionally, through its subsidiary WESSO in the UK, a world-class energy storage facility design company, Samsung C&T plans to focus on developing storage tank technology for liquefied hydrogen.

POSCO announced its vision last year as a "leading green hydrogen company driving the hydrogen economy" and is rapidly securing business rights and technological capabilities across all fields from hydrogen production to transportation, storage, and utilization.

In particular, based on its unique steel competitiveness, POSCO is developing materials necessary for hydrogen transportation and storage, leveraging the world’s first independently developed cryogenic high-manganese (Mn) steel LNG storage tank material technology.

Through this, POSCO and Samsung C&T will collaborate to apply POSCO’s high-manganese steel and high-strength stainless steel to the liquefied hydrogen storage tanks developed by Samsung C&T, securing economically viable hydrogen storage and transportation technology.

O Se-cheol, President of Samsung C&T, said, "We plan to continue cooperation across the entire green hydrogen business value chain, from hydrogen production to storage and supply, by strengthening strategic partnerships with global hydrogen business players."

Yu Byung-ok, Head of POSCO’s Industrial Gas and Hydrogen Business Division, said, "For the green hydrogen business, which is key to decarbonization, it is important to quickly secure advantageous production environments domestically and internationally, and to develop competitive materials and technologies for liquefied hydrogen storage and distribution. Collaboration among capable partners is also necessary to jointly eliminate uncertainties in the future market through strategic efforts."

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