Korea's Hyundai E&C, KHNP to promote clean hydrogen projects

Hyundai Engineering & Construction Co., a major construction contractor in South Korea, signed on March 24 a memorandum of understanding (MOU) with Korea Hydro & Nuclear Power for cooperation in domestic and international clean hydrogen production and technology development.

The agreement was signed at the Hyundai Construction headquarters in Seoul, and the two companies will collaborate on various projects.

These include the construction of a hydrogen production base that uses seawater at the electrolysis-based renewable energy research complex in Buan, North Jeolla Province, as well as joint participation in a project in Chile to secure a base for entering the hydrogen market in Latin America.

Other projects include the production and utilization of clean hydrogen based on biogas and the development of carbon-neutral and clean hydrogen technologies.

Hyundai E&C is currently building Korea's largest commercial seawater-based clean hydrogen production base at the renewable energy research complex in Buan. This involves the participation of Korea Hydro & Nuclear Power, the North Jeolla Provincial Government and Buan County Government.

The facility will be capable of producing, storing and transporting over 1 ton of hydrogen per day.

Additionally, Hyundai E&C plans to expand globally by participating in the production of clean hydrogen in Chile, a country with abundant renewable energy resources such as solar and wind power, and establishing a base for entering the Latin American hydrogen market.

CEO Yoon Young-jun stated that the agreement will accelerate the establishment of a clean hydrogen value chain and contribute to the realization of a hydrogen society.

Write to Jong-Pil Park at jp@hankyung.com