Sangun, Invests 108 Billion KRW in Korea's Largest Liquefied Hydrogen Plant

Linde Group and Hyosung Heavy Industries Joint Venture Receives 'KDB Carbon Spread' Funding

[Asia Economy Reporter Jin-ho Kim] On the 21st, Korea Development Bank (KDB) announced that it will provide 108 billion KRW in 'KDB Carbon Spread Fund' to Linde Hydrogen Energy for constructing the largest liquefied hydrogen production plant in Korea. Linde Hydrogen Energy is a joint venture established by the global energy specialist Linde Group and Korea's leading hydrogen industry company Hyosung Heavy Industries.

The project involves building a liquefied hydrogen production facility with an annual capacity of 13,000 tons on the site of Hyosung Chemical's Ulsan plant, making it the largest single-site facility in the country. The facility can supply hydrogen for approximately 100,000 hydrogen vehicles annually.

KDB's financial support targets the 'hydrogen production' sector, which holds a key position in the hydrogen value chain, signaling the start of policy financial support for establishing a hydrogen ecosystem.

The 'liquefied hydrogen production plant' constructed with KDB's support will receive raw materials (by-product hydrogen) from Hyosung Chemical, utilize Linde Group's liquefaction technology to produce liquid hydrogen products, then sell them to Hyosung Hydrogen, the hydrogen refueling station operating company, and distribute them to the hydrogen commercial vehicle market including buses and trucks. It is expected to establish a systematic hydrogen ecosystem covering procurement → production → sales → distribution.

Meanwhile, earlier this year, KDB launched the 'KDB Carbon Spread Product' to supply funds to various sectors for low-carbon green growth. A KDB official stated, "We plan to take the lead in policy financial support to activate the 'hydrogen economy,' which will drive energy decarbonization and carbon neutrality."

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