SK Group plans to build a hydrogen ecosystem by investing 18 trillion won over the next five years. It is planning to invest in domestic hydrogen business infrastructure and forge partnerships with global companies to become the global No. 1 company in the hydrogen value chain ranging from hydrogen production to distribution and consumption.
SK presented its ambitious plan at the third meeting of the Hydrogen Economy Committee, which was presided over by presided over by Prime Minister Chung Sye-kyun, at SK Incheon Petrochem on March 2.
SK will create a hydrogen ecosystem in Korea in two stages. In the first stage that runs through 2023, it plans to build a plant that can supply 30,000 tons of liquefied hydrogen annually using the by-product hydrogen to be produced by the Bio and By-Product Hydrogen Production Cluster of Incheon City.
In the second stage, it plans to produce 250,000 tons of carbon dioxide-free hydrogen annually at a plant near Boryeong LNG Terminal by 2025.
The 30,000 tons of liquefied hydrogen can power 75,000 hydrogen-fueled Nexo cars to travel around the world (about 46,520 kilometers) at the same time. The plant will reduce carbon as much as 12 million trees do, contributing greatly to improving the air quality in the Seoul metropolitan area.
If 250,000 tons of hydrogen is produced in the second stage, SK will be able to supply a total of 280,000 tons of eco-friendly hydrogen annually in Korea. It is planning to carry out the hydrogen business in Asia in earnest based on its experiences in Korea.
This article is reproduced at www.businesskorea.co.kr
