An increasing number of major South Korean conglomerates are entering the hydrogen industry. Recently, POSCO, SK, Hanwha and Hyosung Groups declared to do so.
POSCO is planning to establish hydrogen production systems for a total production of five million tons until 2050. Its subsidiaries will join forces in order to cover every phase, ranging from hydrogen production and transport to storage and utilization. To this end, it formed a new business unit in charge of industrial gas and hydrogen business.
Likewise, SK Group set up a task force in its holding company. In addition, its subsidiaries including SK E&S will build liquefied hydrogen production facilities with an annual capacity of 30,000 tons. The construction is scheduled to be completed in 2023 so that the hydrogen can be supplied in the metropolitan area.
In Hanwha Group, Hanwha Solutions is leading the business with Hanwha Energy as a hydrogen fuel cell power plant operator and Hanwha Power Systems as a hydrogen charging system supplier. The group recently decided to invest 200 billion won in green hydrogen production, that is, hydrogen production based on renewable sources.
Hyosung Group, which already set up a value chain covering hydrogen production to distribution, is planning to build liquefied hydrogen production facilities in collaboration with Linde Group. The facilities with an annual capacity of 13,000 tons will be built by 2022 in Hyosung’s Yongyeon Plant located in Ulsan City at an investment of 300 billion won. Its subsidiaries including Hyosung Heavy Industries and Hyosung Advanced Materials are also planning to continue with their investment for the same purpose. Hyosung Heavy Industries is currently the largest company in the hydrogen charging station market of South Korea and Hyosung Advanced Materials is in possession of technologies related to carbon fiber for use in hydrogen fuel tanks.
This article is reproduced at www.businesskorea.co.kr
