Gwangyang Free Economic Zone Authority Attracts Investment for Hydrogen Hub Development Project

Cooperating with GS Caltex
Building a Plant in the Yulchon Industrial Complex

The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Koo Chung-gon, hereafter referred to as Gwangyang FEZ Authority) announced on the 14th that it will launch a full-scale hydrogen hub construction project in cooperation with GS Caltex this year, with the goal of establishing a decarbonized and clean hydrogen industrial ecosystem in the Gwangyang Bay Area.

GS Caltex plans to build large-scale hydrogen production and power generation facilities, as well as carbon capture and liquefaction plants, in the Yulchon Convergence and Complex Logistics Complex adjacent to the Yeosu Industrial Complex, in order to move beyond the limitations of the refining business and enter future growth industries.

Aerial view of Yulchon Convergence Logistics Complex. Provided by Gwangyang Free Economic Zone Authority.

Currently, GS Caltex produces more than 400,000 tons of hydrogen annually and plans to convert this to clean hydrogen, expanding its clean energy business to domestic and overseas markets, including the Yeosu Industrial Complex.

This is part of an effort to shift from a business portfolio centered on traditional refining to future new industries, aiming to establish a hydrogen energy supply chain in connection with the Yeosu regional industrial ecosystem and to enter the global market based on large-scale hydrogen production facilities.

The Yulchon Convergence and Complex Logistics Complex, the planned site for GS Caltex's project, is currently under development with completion targeted for 2027.

Once the site development is complete, GS Caltex plans to invest large-scale capital over approximately three years to establish hydrogen production and power generation, carbon dioxide capture and chemical facilities, and equipment plants.

Through this, the company expects to achieve an annual hydrogen production of 300,000 tons, generate new cargo volume of 2.4 million tons of liquid cargo, reduce carbon emissions, and create more than 300 jobs, thereby making a significant contribution to revitalizing the local economy.

Koo Chung-gon, Commissioner of the Gwangyang FEZ Authority, stated, "It is very meaningful to attract large-scale investment in the decarbonization and eco-friendly future industry sector for the sustainable future of the Gwangyang Bay Area," adding, "We will spare no administrative support to ensure successful investment realization, contribute to revitalizing the local economy, and create jobs."

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