HD Hyundai Oilbank to Build Eco-Friendly Energy Complex at Daesan Port in Seosan

MOU Signed with Chungnam Province
Three-Phase Construction to Be Completed by 2032

The Clean Complex Energy Cluster Establishment Agreement Ceremony held on the 23rd at the Chungnam Provincial Government Main Conference Room. / Photo by Pyo Yoonji

HD Hyundai Oilbank will establish a new eco-friendly energy complex facility in the Daesan Port area of Seosan, Chungnam Province.

On the 23rd, Chungnam Province signed an investment agreement (MOU) at the main conference room of the provincial government with Song Myungjun, CEO of HD Hyundai Oilbank, Lee Wanseop, Mayor of Seosan, and Hwang Seongo, Head of the Daesan Regional Office of Oceans and Fisheries.

According to the agreement, HD Hyundai Oilbank will establish a complex facility for the production, distribution, and storage of eco-friendly energy?including green hydrogen and ammonia?on a 159,000-square-meter site at Daesan Port in Seosan by 2032.

HD Hyundai Oilbank plans to sequentially construct: ▲ Phase 1, facilities related to biofuels; ▲ Phase 2, facilities for producing pyrolysis oil from waste plastics and other sources; and ▲ Phase 3, facilities for hydrogen production using clean ammonia.

Governor Kim Taeheum said, "When I visited the Daesan plant last January, I was concerned about the future of the petrochemical industry, but seeing the company quickly pursue new businesses made me realize the remarkable strength of our enterprises. I hope that HD Hyundai Oilbank will not only advance its existing refining and chemical operations, but also turn the crisis in the petrochemical industry into an opportunity by expanding into eco-friendly energy businesses."

HD Hyundai Oilbank, established in 1964 as the nation's first private oil refining company, had 2,165 employees and recorded sales of 30.47 trillion won as of last year.

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