Mercury, Hydrogen Fusion Alliance, and KEXIM Sign MOU to Foster Hydrogen Industry

Tripartite Business Agreement Signed
21 Trillion Won Support for Hydrogen and Renewable Energy Sector Over the Next 10 Years

The Export-Import Bank of Korea, the Hydrogen Convergence Alliance, and the Korea Trade Insurance Corporation signed a "Tripartite Memorandum of Understanding for the Development and Promotion of the Hydrogen Industry" on the 22nd at the headquarters of the Korea Trade Insurance Corporation. (From left) Lee In-ho, President of the Korea Trade Insurance Corporation; Moon Jae-do, Chairman of H2KOREA; and Bang Moon-kyu, President of the Export-Import Bank of Korea, are taking a commemorative photo after signing the memorandum.

[Asia Economy Reporter Park Sun-mi] The Export-Import Bank of Korea, the Hydrogen Convergence Alliance, and the Korea Trade Insurance Corporation signed a 'Tripartite Memorandum of Understanding for the Development and Promotion of the Hydrogen Industry' on the 22nd.

Bank President Bang Moon-kyu, Hydrogen Convergence Alliance Chairman Moon Jae-do, and Korea Trade Insurance Corporation President Lee In-ho met at the K-sure headquarters that morning and signed the MOU, which includes key points such as discovering domestic and international hydrogen projects, mutual cooperation to support customized financial and non-financial services, and information sharing.

Through this MOU, the three organizations plan to jointly support pioneering projects in new hydrogen markets, including the establishment of global hydrogen production and supply infrastructure. In particular, to ensure the successful overseas expansion of Korean companies in the hydrogen sector, K-sure and K-sure will jointly provide financing, actively participating in the globalization of hydrogen companies through the implementation of this agreement.

Bank President Bang said, “This tripartite MOU is expected to lay the foundation for domestic hydrogen companies’ overseas expansion,” adding, “We will actively support overseas projects in the hydrogen sector to further enhance the global competitiveness of our companies in the renewable energy industry.”

Meanwhile, to promote the globalization of the K-New Deal, the Export-Import Bank of Korea plans to supply 60 trillion won over the next 10 years to green new deal industries such as renewable energy and secondary batteries, and 21.4 trillion won to renewable energy sectors including hydrogen, solar power, and wind power.

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