SK E&S to Officially Launch the 'Liquefied Hydrogen Era' Starting Next Year

Government, Liquefied Hydrogen Suppliers, and Vehicle Manufacturers Sign MOU to Establish
'Liquefied Hydrogen Ecosystem'

Up to 30,000 Tons Annual Capacity in Second Half of 2023
Incheon Liquefied Hydrogen Plant to Operate
About 40 Charging Stations Planned

Chu Hyung-wook, President and CEO of SK E&S (fourth from the right), attended the signing ceremony of the "Liquefied Hydrogen Ecosystem Creation Memorandum of Understanding (MOU)" held at Lotte Hotel Seoul on the 9th and took a commemorative photo with attendees including Han Duck-soo, Prime Minister (center). From the left: Han Hwa-jin, Minister of Environment; Lee Chang-yang, Minister of Trade, Industry and Energy; Park Jung-guk, President of Hyundai Motor Company; Lee Sang-woon, Vice Chairman of Hyosung; Han Duck-soo, Prime Minister; Chu Hyung-wook, President of SK E&S; Kang Young-taek, Director of Hi Changwon; Lee Jong-ho, Minister of Science and ICT; Lee Won-jae, 1st Vice Minister of Land, Infrastructure and Transport. Photo by SK E&S

[Asia Economy Reporter Donghoon Jeong] SK E&S plans to officially start the production and distribution of up to 30,000 tons of liquefied hydrogen annually from next year, ushering in the "Era of Liquefied Hydrogen in Korea."

On the 9th, SK E&S announced that it signed a Memorandum of Understanding (MOU) for the creation of a liquefied hydrogen ecosystem with the Ministry of Trade, Industry and Energy, the Ministry of Science and ICT, the Ministry of Environment, the Ministry of Land, Infrastructure and Transport, Hyosung, Hi Changwon, and Hyundai Motor Company.

The MOU signing ceremony was held as a preliminary event to the "5th Hydrogen Economy Committee," where the Prime Minister, related ministers, and private members participate to deliberate and decide on key hydrogen economy policies.

The parties to the agreement agreed to foster a hydrogen industry ecosystem to ensure smooth production, distribution, and utilization of liquefied hydrogen domestically from 2023, and to jointly promote the expansion of hydrogen commercial vehicles, including hydrogen buses.

First, liquefied hydrogen suppliers such as SK E&S, Hyosung, and Hi Changwon plan to focus on producing competitively priced liquefied hydrogen and distributing it stably starting in 2023.

The government will strengthen policy support for technology development, infrastructure construction, and expansion of utilization to activate the production, distribution, and use of liquefied hydrogen. Hyundai Motor Company plans to ensure the smooth production of hydrogen commercial vehicles, a major application of liquefied hydrogen, and actively engage in maintenance and repair.

Currently, SK E&S is constructing a plant in the Incheon area capable of producing up to 30,000 tons of liquefied hydrogen annually. Production is scheduled to begin in earnest in the second half of 2023. The produced liquefied hydrogen will be supplied through refueling stations in key regions nationwide. SK E&S is building about 40 liquefied hydrogen refueling stations near demand sites such as bus garages through SK Plug Hyverse, a joint venture with the U.S. company Plug Power.

Liquefied hydrogen is hydrogen that exists as a gas at room temperature but is cooled to an extremely low temperature of minus 253 degrees Celsius to become liquid. Compared to gaseous hydrogen, its volume is reduced to 1/800, and the transportation capacity per trip is about 10 times greater. It is advantageous for large-scale storage and transportation, which reduces transportation costs. Additionally, its fast refueling speed allows charging of about four times more vehicles in the same time compared to gaseous hydrogen. Unlike gaseous hydrogen, which requires high-pressure compression, liquefied hydrogen can be stored at near atmospheric pressure, lowering the risk of explosion and fire, thus boasting high safety.

Until now, the domestic hydrogen ecosystem has grown based on gaseous hydrogen, but from 2023, as companies participating in the hydrogen business begin producing liquefied hydrogen and building refueling infrastructure in earnest, the domestic hydrogen industry is expected to become more vibrant. Overseas, in countries such as the U.S., Japan, and Germany, more than 250 liquefied hydrogen refueling stations are already in operation, expanding the hydrogen ecosystem centered on liquefied hydrogen.

Meanwhile, on the same day, SK E&S CEO Hyungwook Chu was appointed as a private member of the 2nd Hydrogen Economy Committee, composed of domestic hydrogen economy experts from industry, academia, and research institutions.

CEO Chu said, "At a time when the full-scale production of liquefied hydrogen is imminent, this MOU is meaningful as it lays the foundation for the government, liquefied hydrogen suppliers, and vehicle manufacturers to jointly achieve an evolution in hydrogen storage and distribution methods. SK E&S will do its best to produce and supply competitive liquefied hydrogen without fail and make 2023 the inaugural year for the spread of liquefied hydrogen in Korea."