Gas Corporation "Leading the Development of the Hydrogen Distribution Industry"

Hyundai Steel and 4 Other Companies Sign Agreement to Develop Hydrogen Distribution Industry for Hydrogen Vehicles

President Chae Hee-bong of Korea Gas Corporation (sixth from the left) poses for a commemorative photo at the groundbreaking ceremony of the HyNet Dangjin Hydrogen Shipping Center on the 12th. (Photo by Korea Gas Corporation)

[Asia Economy Reporter Moon Chaeseok] Korea Gas Corporation announced on the 12th that it signed an "Agreement for the Development of the Hydrogen Distribution Industry for Hydrogen Vehicles" with five companies?Hyundai Steel, Hyundai Glovis, SPG Hydrogen, HyNet, and Hyundai Motor Company?at Hyundai Steel's hydrogen plant in Dangjin, Chungnam.

The event was attended by key figures including Chae Hee-bong, President of Korea Gas Corporation; Ahn Dong-il, President of Hyundai Steel; Kim Jeong-hoon, President of Hyundai Glovis; Yang Jin-mo, Vice President of Hyundai Motor Company; Lee Seong-jae, Chairman of SPG Hydrogen; and Yoo Jong-soo, President of HyNet.

Through this agreement, the six companies, based on their respective expertise, agreed to mutually cooperate across the entire hydrogen value chain, including high-purity hydrogen production, transportation, distribution, hydrogen refueling station operation, and hydrogen vehicle supply.

Following the signing ceremony, a groundbreaking ceremony was held for the "HyNet Hydrogen Gas Shipping Center," which will be constructed at Hyundai Steel's hydrogen plant to supply hydrogen for hydrogen vehicles. The ceremony was attended by about ten government and industry officials, including Jeong Seung-il, Vice Minister of the Ministry of Trade, Industry and Energy.

The Dangjin Hydrogen Gas Shipping Center is a facility that HyNet is investing 6 billion KRW to build near Hyundai Steel's hydrogen plant, aiming for completion in early next year. It will have the capacity to ship about 5 tons of hydrogen per day (equivalent to the consumption of approximately 13,000 passenger hydrogen vehicles).

In particular, the high-purity byproduct hydrogen produced here is expected to be price competitive.

A Korea Gas Corporation official stated, "High-purity byproduct hydrogen is expected to empower Korea Gas Corporation, as the future 'dedicated hydrogen distribution agency,' to efficiently establish the hydrogen distribution market and lead the activation of the hydrogen economy."