Moving to Set up Consultative Body
Hyundai Motor Group chairman Chung Eui-sun, SK Group chairman Chey Tae-won, POSCO Group chairman Choi Jung-woo and Hyosung Group chairman Cho Hyun-joon gathered together on June 10 in order to strengthen their partnership in the hydrogen industry.
Three months ago, they announced that they would invest 41 trillion won in the industry until 2030. It is divided into 18.5 trillion won from SK, 11.1 trillion won from Hyundai, 10 trillion won from POSCO and 1.2 trillion won from Hyosung.
Hyundai, which manufactured the world’s first hydrogen electric vehicle in 2013, is aiming to produce 500,000 hydrogen electric vehicles and 700,000 hydrogen fuel cell systems a year in the near future. In addition, it is planning to develop and release new commercial hydrogen electric vehicle models.
SK formed a task force in charge late last year in an effort to lead the global hydrogen energy industry by total value chain establishment by 2025. It is planning to produce 30,000 tons of by-product hydrogen and 250,000 tons of clean hydrogen starting from 2023 and 2025, respectively.
POSCO is aiming to reach an annual green hydrogen production of five million tons and hydrogen sales of 30 trillion won in 2050. In this regard, it is working on hydrogen reduction steelmaking so that its carbon emissions can become zero in 2050 at the latest.
Hyosung is building a value chain ranging from hydrogen production to supply. It is going to build a liquid hydrogen plant with an annual production capacity of 13,000 tons in Ulsan and 30 liquid hydrogen charging stations nationwide by 2023.