Gas Corporation Leads Korea's Hydrogen Innovation

Hyundai Motor Company and Infrastructure Expansion Business Agreement

The signing ceremony of the business agreement to promote the convergence-type hydrogen charging station between Korea Gas Corporation and Hyundai Motor Company. The fourth person from the left in the front row is Chae Hee-bong, President of Korea Gas Corporation, and the third person is Ji Young-jo, President of Hyundai Motor Company. (Photo by Korea Gas Corporation)

[Asia Economy Reporter Moon Chaeseok] Korea Gas Corporation is contributing to making Korea a leading country in the hydrogen economy by promoting new businesses across all sectors of the hydrogen industry, including technological innovation, distribution, and supply. Following the announcement of plans to establish a convergence-type charging station through a joint venture with Hyundai Motor Company, it is also actively participating in the government's Green New Deal policy.

According to Korea Gas Corporation on the 12th, the corporation signed a "Memorandum of Understanding for Securing Competitiveness in the Hydrogen Business and Expanding Sustainable Hydrogen Infrastructure" with Hyundai Motor Company on the 14th of last month.

Under this agreement, Korea Gas Corporation plans to establish a joint venture with Hyundai Motor Company to build and operate convergence-type charging stations.

With the expansion of charging stations, hydrogen production, charging, sales, and fuel cell power generation can be addressed simultaneously. Charging will be possible not only for hydrogen vehicles but also for electric vehicles and liquefied natural gas (LNG) vehicles.

Korea Gas Corporation will also cooperate with Hyundai Motor Company on overseas projects such as importing hydrogen and producing liquefied hydrogen. They plan to jointly develop charging infrastructure technology, carbon dioxide capture and reduction utilization, and eco-friendly hydrogen production technologies.

A representative from Korea Gas Corporation explained, "Through collaboration with Hyundai Motor Company, we plan not only to produce highly functional products but also to establish the foundation of Korea's hydrogen industry and maximize the growth momentum of the industry."

CEO Chae Hee-bong has already been selected as a specialist member of the Hydrogen Economy Committee and is participating in the national hydrogen economy introduction plan at the government-wide hydrogen economy control tower.