‘Public Enterprise Edition’ Hydrogen Avengers... The First Project is Liquefied Hydrogen Infrastructure

Strengthening Public-Private Cooperation for Hydrogen Infrastructure Development
LNG Receiving Terminal to Be Converted for Liquefied Hydrogen
“Considering Formation of Working Group with Private Companies”

Officials from public institutions attending the "1st Energy Public Institutions Hydrogen Economy Council" are discussing plans for building hydrogen infrastructure.
[Photo by Ministry of Trade, Industry and Energy]

[Asia Economy Sejong=Reporter Lee Jun-hyung] Fourteen energy public institutions, including Korea Electric Power Corporation, Korea Gas Corporation, and Korea Power Exchange, have come together as the "Public Enterprise Hydrogen Avengers" with an ambitious plan to accelerate the government's hydrogen economy transition through cooperation with private companies.

According to the Ministry of Trade, Industry and Energy on the 28th, the newly launched "Energy Public Institutions Hydrogen Economy Council" decided to focus all efforts on building hydrogen infrastructure such as plants as the first step to strengthen public-private cooperation for establishing a hydrogen ecosystem. The council believes that by building hydrogen infrastructure centered on the public sector, the initial investment burden and investment uncertainty for private companies will be significantly reduced, thereby activating private investment.

The council's first project is the construction of liquefied hydrogen infrastructure. The plan is to convert five liquefied natural gas (LNG) receiving terminals of Korea Gas Corporation located in Incheon, Pyeongtaek, Jeju, and other areas into liquefied hydrogen receiving terminals. Korea Gas Corporation intends to sequentially convert existing LNG receiving terminals into liquefied hydrogen receiving terminals according to the demand from LNG power plants and others. Korea Gas Corporation will promote the liquefied hydrogen receiving terminal conversion project within the year after coordinating with power companies and others.

Additionally, the council plans to strengthen public-private cooperation to build a hydrogen ecosystem encompassing "supply-distribution-utilization." This is because joint growth between the public and private sectors is essential to preoccupy the emerging global hydrogen market. This naturally supports the hydrogen business consortium "Korea H2 Business Summit." The Korea H2 Business Summit, launched in September last year, includes 15 private companies such as SK, Hyundai Motor, and POSCO. It is the largest domestic private hydrogen-related organization and has announced plans to invest 43 trillion won in the hydrogen sector by 2030. An official from the Ministry of Trade, Industry and Energy stated, "The council has a strong will for public-private cooperation," adding, "We are also considering forming working groups with individual companies by business units when carrying out projects."

Officials from public institutions attending the "1st Energy Public Institutions Hydrogen Economy Council" are posing for a commemorative photo.
[Photo by Ministry of Trade, Industry and Energy]

Meanwhile, the council held its inaugural meeting along with the launch ceremony the day before. The council plans to hold regular monthly meetings to timely build related infrastructure such as pipeline networks according to hydrogen energy introduction and power demand. Foundational systems such as the Clean Hydrogen Power System (CHPS), Clean Hydrogen Certification System, and hydrogen supply-demand plans will also be discussed sequentially.

Kang Kyung-sung, Director of the Energy Industry Office at the Ministry of Trade, Industry and Energy, said, "The reason South Korea has successfully established energy ecosystems for oil, gas, and electricity is because all public institutions worked together," adding, "If we maximize the accumulated experience and capabilities of each institution, including the overseas networks and receiving/storage facilities and pipeline construction of oil and gas corporations, as well as the nationwide power network construction of KEPCO and power generation companies, we can succeed in building a hydrogen ecosystem."