Jang Jae-hoon, Hyundai Motor President, to Lead Hydrogen Company CEO Council

Appointed Co-Chair of Hydrogen Council
Second Korean Following Chairman Chung Eui-sun

Jang Jae-hoon, President of Hyundai Motor Company, has been appointed as co-chair of the Hydrogen Council, a CEO-level consultative body related to the hydrogen business, the council announced on the 18th. He is the second Korean to hold this position since Chung Eui-sun, Chairman of Hyundai Motor Group, served as chairperson in 2019.

Previously, Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries, who served as co-chair, stepped down after his term ended in June this year, and President Jang succeeded him as chairperson. Jang Jae-hoon will serve as co-chair alongside Sanjiv Lamba, CEO of the German industrial gas company Linde.

The Hydrogen Council was launched in 2017 at the World Economic Forum. It was deemed more efficient for companies involved in various value chains to collaborate rather than respond individually during the transition to eco-friendly energy. Over 140 multinational companies participate in the council. Member companies include global automakers such as Hyundai Motor Group from Korea, Toyota, Honda, and BMW, as well as oil and energy companies like ExxonMobil, Aramco, Shell, BP, and Air Liquide. The combined market capitalization of the member companies amounts to $9 trillion (approximately 1,200 trillion KRW).

Yoshinori Kanehana, Chairman of Kawasaki Heavy Industries (from left), Sanjib Lamba, CEO of Linde, Ivana Zemelkova, CEO of the Hydrogen Council, and Jaehoon Chang, CEO of Hyundai Motor Company, are taking a commemorative photo at the annual CEO regular event recently held in Berlin, Germany.
[Photo by Hydrogen Council]

Hyundai Motor Group is one of the 13 founding members of the council, and Chung Eui-sun was the first Korean to serve as co-chair in 2019. Hyundai Motor established a dedicated R&D organization for hydrogen-related research in 1998 and has been focusing on developing hydrogen technologies. In 2004, it independently developed the fuel cell’s core component, the stack, and in 2013, it became the first in the world to mass-produce a mid-size sports utility vehicle (SUV)-class hydrogen electric vehicle. The Nexo, which is still sold domestically and internationally, was introduced in 2018. Hyundai also pioneered the market for large commercial vehicles powered by hydrogen fuel by launching the mass-produced model, the Xcient hydrogen electric truck.

At CES earlier this year, Hyundai Motor Group announced it would expand its existing fuel cell brand, HTWO, into a hydrogen value chain business brand. While it had previously focused on developing mobility solutions such as passenger and commercial vehicles, it now plans to supply the entire hydrogen value chain, including power grids. The group is conducting hydrogen truck demonstration projects domestically and internationally and has reorganized hydrogen-related business units among its affiliates to improve operational efficiency.

Jang Jae-hoon, President of Hyundai Motor Company [Photo by Hyundai Motor Group]

With President Jang taking on the role of co-chair of the Hydrogen Council, the council expects him to lead discussions on global hydrogen demand and foster collaboration among diverse stakeholders. To accelerate the transition to a hydrogen society, he plans to work closely with fellow CEOs. President Jang stated, "The Hydrogen Council must play a leading role in the global transition to eco-friendly energy," adding, "I will lead innovation together with my fellow hydrogen leaders."

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