New Manufacturing Facility to Be Established in Hydrogen Specialized Complex by 2029
Pilot Project to Install Fuel Cells in Existing Apartment Complexes
On April 23, Pohang City signed a memorandum of understanding (MOU) for a 20 billion KRW investment with SFuelCell, a leading domestic hydrogen fuel cell company.
Pohang City signed a memorandum of understanding for a 20 billion KRW investment with SFuelCell, a leading domestic hydrogen fuel cell company, on the 23rd. Lee Gangdeok, Mayor of Pohang, and Hong Seongmin, CEO of SFuelCell (right) Photo by Pohang City
Under this agreement, SFuelCell plans to invest 20 billion KRW to establish a hydrogen fuel cell manufacturing facility on a 6,498-square-meter site within the Blue Valley National Industrial Complex.
The plant will be constructed in phases over three years from 2026 to 2029, and upon completion, it is expected to create approximately 50 new jobs.
SFuelCell is a top-tier domestic hydrogen-specialized company with a diverse portfolio of hydrogen fuel cell products, including fuel cells for buildings and power generation, as well as power packs for hydrogen forklifts. The company has demonstrated its technological capabilities through 23 patents, 16 KS-certified products, European CE certification, and domestic and international demonstration projects.
In particular, the fact that a company possessing core technologies in the hydrogen fuel cell sector is moving into the Pohang Hydrogen Specialized Complex is seen as a practical turning point in the creation of a hydrogen industry ecosystem that Pohang City has been preparing for years.
This is expected to serve as an opportunity for Pohang to become a strategic hub leading the hydrogen economy in South Korea, going beyond simply attracting investment.
Along with this collaboration, Pohang City will also promote a pilot project to install fuel cells in existing apartment complexes.
The plan is to apply fuel cells to existing apartments with various heating systems, thereby verifying the potential for reducing carbon emissions and realizing a decentralized urban power supply model.
To ensure the smooth implementation of the pilot project, Pohang City will provide administrative and financial support, while SFuelCell will be responsible for technical review, quality control, and provision of demonstration data, establishing a close collaborative system throughout the project.
Based on the results of the pilot project, the city aims to prove the safety and economic feasibility of fuel cells and expand their deployment to existing apartment complexes nationwide in the future.
Hong Seongmin, CEO of SFuelCell, said, "Pohang is a city with outstanding hydrogen infrastructure and policy support. Through this agreement, we will contribute to the advancement of fuel cell technology and the creation of a sustainable energy ecosystem."
Lee Gangdeok, Mayor of Pohang, stated, "This agreement is an important milestone for Pohang as it moves toward becoming a central city in the hydrogen industry. We will further strengthen the hydrogen fuel cell industry ecosystem and spare no policy support to promote the spread of eco-friendly energy."
Pohang City is currently establishing a system to support the entire cycle of the hydrogen fuel cell industry cluster, from technology development and demonstration to testing, evaluation, certification, and commercialization.
With SFuelCell's investment, Pohang plans to advance as an international hydrogen industry hub and further solidify its position as a core center for the fuel cell industry.
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