[Sejong=Asia Economy Reporter Kwon Haeyoung] Starting from May 2023, a project to supply 13,000 tons of liquefied hydrogen annually in Korea has taken its first step.
According to the Ministry of Trade, Industry and Energy on the 21st, a groundbreaking ceremony for the construction of a hydrogen liquefaction plant, a joint venture between Hyosung and Linde Group, will be held at 11 a.m. at the site of Hyosung Chemical's Yongyeon Plant No. 3 in Ulsan.
Hyosung Heavy Industries and Linde Group, a global industrial gas specialist chemical company, established a joint venture (JV) called Linde Hydrogen, which plans to build a liquefied hydrogen plant with an annual capacity of 13,000 tons at the Yongyeon plant site by early 2023. This is the largest single-scale plant in the world.
Liquefied hydrogen is hydrogen gas cooled to an extremely low temperature (-253℃) and liquefied. Compared to high-pressure hydrogen gas, it has advantages in safety and economic efficiency. Major domestic companies, including Hyosung, are promoting large-scale facility investments and the construction of liquefied hydrogen refueling stations to supply liquefied hydrogen in preparation for the full-scale introduction of large mobility (means of transportation) starting in 2023.
On this day, Hyosung and Linde Group held a 'Hydrogen Business Vision Declaration Ceremony' and agreed to build liquefied hydrogen infrastructure with a joint investment of about 300 billion KRW, aiming to become a leading company in hydrogen production and hydrogen energy based on this.
A signing ceremony for the 'Ulsan Metropolitan City Hydrogen Economy Development Business Agreement' among Ulsan City, Hyosung, and Linde was also held. Ulsan City plans to build optimal large-capacity hydrogen refueling stations in cooperation with the industry and expand the liquefaction plant to an annual capacity of 39,000 tons in the mid to long term. It will also focus on domestic production of related facilities and expansion of green hydrogen production.
The government plans to support the successful progress of large-scale private sector investment projects related to liquefied hydrogen. It will prepare safety regulations related to liquefied hydrogen plants within the year and continue to promote the establishment of a liquefied hydrogen ecosystem through demonstrations in regulatory free zones and R&D support for small and medium-sized enterprises and mid-sized companies producing hydrogen commercial vehicles.
Park Jin-gyu, Vice Minister of the Ministry of Trade, Industry and Energy, said, "For carbon neutrality by 2050, the transition to a hydrogen economy based on clean hydrogen is essential, and proactive large-scale infrastructure investment by the private sector will be a great help." He added, "The government will also spare no support to expand the domestic hydrogen industry ecosystem through bold regulatory improvements and focused nurturing of hydrogen specialized companies."
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