Gyeonggi-do Attracts $500 Million Investment from Global Clean Green Hydrogen Company 'Air Products'

Kim Dong-yeon, Governor of Gyeonggi Province (center), is taking a commemorative photo after signing the 'Air Products Investment Agreement' at Gyeonggi Provincial Office on the 20th, together with Jeong Jang-seon, Mayor of Pyeongtaek (left), and Wilbur Mok, Head of Air Products Asia.

Air Products, a global industrial gas production company based in the United States, will build a clean green hydrogen production facility in the Poseung (BIX) district of Pyeongtaek, Gyeonggi Province. The total investment amounts to $500 million (approximately 650 billion KRW), with an expected employment creation effect of about 550 jobs.

On the 20th, Gyeonggi Province signed an investment agreement with Air Products Asia and Pyeongtaek City at the Gyeonggi Provincial Government Office regarding this matter.

According to the agreement, Gyeonggi Province will provide various administrative supports necessary for Air Products' investment and actively work to improve any difficulties. Air Products will contribute to revitalizing the local economy by early construction of the facility, operate and manage it as an eco-friendly facility, and strive to employ local residents.

Air Products' clean green hydrogen production facility will supply clean green hydrogen to nearby semiconductor production facilities. The clean green hydrogen produced at this plant will be supplied to domestic semiconductor anchor companies.

Air Products Korea plans to establish a clean green hydrogen production plant on a 55,156㎡ (16,680 pyeong) site in the Poseung (BIX) district of Pyeongtaek, starting construction in the first half of next year with a target completion date of December 2026. Mass production will begin in the first half of 2027. The total investment is $500 million, with an expected creation of 550 jobs.

Earlier, in April, Gyeonggi Governor Kim Dong-yeon visited the U.S. Air Products headquarters and attracted an investment of 500 billion KRW for a semiconductor industrial gas production facility.

This investment is an additional investment following the one in April. Gyeonggi Province explained that this is a new investment in the hydrogen sector. Accordingly, Gyeonggi Province has attracted not only the semiconductor industrial gas production facility but also the clean green hydrogen production facility.

Air Products is the world's leading industrial gas company with 80 years of operation and the largest global hydrogen supplier. It is currently implementing its goal to achieve Net Zero (carbon neutrality) by 2050. It has set a short-term goal to reduce 33% of its total current CO2 emissions by 2030 and is actively pursuing it. This clean green hydrogen production facility is expected not only to contribute to the Korean government's greenhouse gas reduction targets but also to promote the hydrogen economy and secure opportunities for advancing decarbonization projects.

At the agreement ceremony, Governor Kim Dong-yeon said, "When I explained Gyeonggi Province's climate change measures during my previous visit to the headquarters, Chairman Saeipi Ghasemi said that if the governor's policy direction is that firm, Air Products would invest without limitation." He added, "I am very pleased to make an additional investment as a result and grateful that they kept their promise."

He continued, "I think there are three important things in today's investment agreement. First, the $500 million is the largest amount for clean green hydrogen. Second, this agreement marks the first domestic introduction of clean green hydrogen. Third, it brings us one step closer to the 100 trillion KRW investment I promised during my term." He promised, "Air Products' carbon reduction goals align with those of Gyeonggi Province, and choosing Pyeongtaek as the production and storage site for clean green hydrogen is an excellent choice. Gyeonggi Province and Pyeongtaek City will provide maximum support to ensure the project's successful completion."

Jung Jang-seon, Mayor of Pyeongtaek City, emphasized, "Pyeongtaek City has made every effort over the past five years to become a hydrogen city. Therefore, we proudly call ourselves Korea's number one hydrogen city. We welcome Air Products' investment in Pyeongtaek and will do our best to support it."

Wilbur Mok, Air Products Asia Representative, said, "I understand that Gyeonggi Province and Pyeongtaek City have a pioneering vision and are working hard to build a hydrogen economy ecosystem. With today's agreement, Gyeonggi Province can reduce carbon emissions, realize the RE100 vision, revitalize the local economy, and ultimately contribute to Korea's low-carbon goals. I hope we can continue close cooperation to create more success stories."

Meanwhile, Governor Kim Dong-yeon has achieved a total of 50 trillion KRW in domestic and foreign investments over the past year and a half toward his goal of attracting over 100 trillion KRW in investments during his term, known as ‘Investment Attraction 100 Trillion+’.

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