South-East Power Signs Deal on Joint Development of Hydrogen Power Generation Business with GS Caltex

On March 8, Korea South-East Power signed a business agreement (MOU) on the production, storage, and utilization of clean hydrogen and the development of new carbon-free distributed power sources with GS Caltex.

Starting with this agreement, the two companies will jointly develop a hydrogen business to reduce carbon and create a hydrogen ecosystem at the Yeosu National Industrial Complex scheduled to be built.

GS Caltex will build a clean hydrogen production facility to produce about 200,000 tons of hydrogen per year, and Korea South-East Power will stably use it for carbon-free power generation and supply electric power to GS Caltex and the industrial complex.

The two companies will build a cooperative system to establish and run clean hydrogen production facilities, collect, utilize and store carbon dioxide, build and operate power generation facilities using clean hydrogen, discover business models for implementing carbon neutral policies and develop overseas clean hydrogen introduction and utilization projects.