GS Caltex-Namdong Power, Establish Clean Hydrogen Hub in Yeosu

Clean Hydrogen Value Chain Cooperation Agreement
Joint Project from Production to Power Generation

GS Caltex is promoting a hub project to produce and supply clean hydrogen in Yeosu in collaboration with Korea South-East Power.

On the 8th, GS Caltex signed a Memorandum of Understanding (MOU) with Korea South-East Power at the Korea South-East Power headquarters in Jinju, Gyeongsangnam-do, to cooperate on clean hydrogen production, supply, utilization, and other carbon neutrality projects.

Huh Se-hong, CEO of GS Caltex

Clean hydrogen refers to hydrogen produced without emitting carbon dioxide during the manufacturing process or hydrogen from which the generated carbon dioxide has been captured and stored.

The two companies plan to promote the Yeosu Hydrogen Hub project. GS Caltex will leverage its accumulated technology and expertise as a hydrogen producer to establish clean hydrogen production facilities and supply hydrogen to the Yeosu Industrial Complex. Korea South-East Power will operate power generation facilities utilizing clean hydrogen. The establishment of a clean hydrogen value chain is expected to contribute to reducing carbon dioxide emissions in the Yeosu area, where many high carbon-emitting companies are concentrated.

Additionally, the two companies have agreed to promote cooperation for carbon neutrality implementation, planning to expand collaboration in the mid to long term by discovering joint business models for GS Caltex’s carbon reduction.

GS Caltex is advancing into the hydrogen business value chain by conducting liquefied hydrogen production and supply, hydrogen refueling station construction, and fuel cell power generation projects. In 2021, it established the first integrated energy station in the Seoul metropolitan area in Gangdong-gu, Seoul, combining a gas station, LPG charging station, and hydrogen refueling station in partnership with Hyundai Motor Company.

Kim Jung-soo, Head of Strategy Planning at GS Caltex, stated, "We are expanding the hydrogen business value chain for green transformation," adding, "We will produce clean hydrogen in the Yeosu region to contribute to carbon neutrality and create various cooperation opportunities with Korea South-East Power."

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