Hyundai Engineering & Construction and Korea Hydro & Nuclear Power Collaborate on Clean Hydrogen Production Business and Technology Development

Hyundai Engineering & Construction announced on the 26th that it signed a Memorandum of Understanding (MOU) for cooperation in domestic and overseas clean hydrogen production projects and technology development with Korea Hydro & Nuclear Power (KHNP) on the 24th at Hyundai Engineering & Construction headquarters located in Gye-dong, Jongno-gu, Seoul.

Through this agreement, the two companies will jointly carry out domestic and international clean hydrogen production projects and actively advance research and development in the carbon reduction field.

Yoon Young-jun, President of Hyundai Engineering & Construction (right), and Hwang Ju-ho, President of Korea Hydro & Nuclear Power, are taking a commemorative photo after signing an agreement on the 24th.
[Photo by Hyundai Engineering & Construction]

The agreement includes ▲ the establishment of a hydrogen production base based on water electrolysis in Buan, Jeonbuk ▲ joint participation in a Chile project to secure a foothold for hydrogen business expansion in Latin America ▲ development and commercialization of blue hydrogen technology using CCUS technology ▲ clean hydrogen production and utilization projects based on biogas ▲ and other cooperation in carbon neutrality and clean hydrogen technology development covering the entire hydrogen value chain.

Hyundai Engineering & Construction is currently carrying out the project to establish Korea’s first commercial water electrolysis-based clean hydrogen production base at the renewable energy research complex located in Buan, Jeonbuk, in collaboration with KHNP, Jeollabuk-do, Buan-gun, Techross Water & Energy, and Environmental Services.

This project involves constructing a facility with a 2.5 MW-class water electrolysis system capable of producing, storing, and transporting more than one ton of hydrogen per day.

Going forward, based on this project, the two companies plan to secure core competencies in clean hydrogen production, storage, and transportation, and expand their hydrogen business into the global market by jointly participating in clean hydrogen production projects in Chile, which is rich in renewable energy resources such as solar and wind power.

Yoon Young-jun, President of Hyundai Engineering & Construction, said, “Hyundai Engineering & Construction has focused its resources and capabilities on the hydrogen sector to lead the energy transition era and has strengthened its technological superiority. Through this agreement between two companies leading the renewable energy business, we will accelerate the establishment of a clean hydrogen value chain and do our best to bring forward the realization of a hydrogen society.”

Hwang Ju-ho, President of KHNP, stated, “We expect to create mutual synergy effects in hydrogen production and carbon neutrality business areas through this agreement. Based on this, we will strive to enhance competitiveness in the global hydrogen production market and contribute to the development of the national hydrogen industry.”