Hyundai Engineering & Construction and Korea Institute of Energy Research Sign MOU to Promote Carbon Neutrality

Yoon Young-jun (right), President of Hyundai Engineering & Construction, and Kim Jong-nam, President of the Korea Institute of Energy Technology, are signing a memorandum of understanding and taking a commemorative photo. [Photo by Hyundai Engineering & Construction]

[Asia Economy Reporter Cha Wanyong] Hyundai Engineering & Construction announced on the 20th that it signed a Memorandum of Understanding (MOU) with the Korea Institute of Energy Research on the 18th to cooperate on technology development and commercialization in the energy sector to achieve carbon neutrality.

The two organizations will mutually collaborate in areas such as CCUS (Carbon Capture, Utilization, and Storage), hydrogen production, storage and transportation, and renewable energy (solar power, wind power, biogas).

Hyundai Engineering & Construction expects to create significant synergy not only in hydrogen production, supply, and utilization technologies but also in clean carbon energy utilization fields such as carbon dioxide (CO2) capture and chemical conversion.

Yoon Young-jun, President of Hyundai Engineering & Construction, stated, "We will take the lead in securing core technologies in the energy sector that achieve carbon neutrality and lead the hydrogen economy society, thereby establishing an eco-friendly construction ecosystem."

Meanwhile, Hyundai Engineering & Construction was selected as the lead research and development institution for the Ministry of Science and ICT's national project in the CCU field in June and is currently promoting R&D technology cooperation and demonstration projects in the CCUS sector.

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