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Build a hydrogen production-distribution-consumption ecosystem by ’25
Completion of the world’s largest liquefied hydrogen plant
Comprehensive cooperation with Hyundai Motor Company, including the establishment of the ‘Hydrogen Committee’
SK Group will invest around 18 trillion won over the next five years to create a serious domestic hydrogen ecosystem.
On the 2nd, at the 3rd Prime Minister’s Hydrogen Economy Committee held at SK Incheon Petrochemical on the 2nd, SK announced plans to build a domestic hydrogen ecosystem with the above contents and started the business in earnest. The goal is to make the leap to the world’s number one hydrogen company in the hydrogen production, distribution and consumption value chain through investment in domestic hydrogen commercial infrastructure and partnerships with global companies.
The event was attended by government and local government officials, including Prime Minister Jeong Sye-gyun, Chairman of the Hydrogen Economy Committee, Minister of Commerce, Industry and Energy Sung Yun-mo, Minister of the Environment Han Han- ae, Incheon Mayor Park Nam-chun, and Seo-gu’s officer Lee Jae-hyun.
On the side of SK Group, Tae-won Choi, President of SK Group, Dong-Hyun Jang, President of SK Co., Ltd., Hyung-wook Choo, President of SK E&S and Director of SK Hydrogen Business Promotion Manager, Yoon – seok Choi, president of SK Incheon Petrochemical, etc. In attendance were the president, Cho Sung-hwan, president of Hyundai Mobis, and Kim Se-hoon, vice president of Hyundai Motors.
Participants heard SK’s strategy to build a hydrogen ecosystem and toured the site at SK Incheon Petrochemical, where the liquefied hydrogen production base will be built.
SK’s strategy for creating a domestic hydrogen ecosystem is largely carried out in two stages. The first phase is to supply 30,000 tonnes of liquefied hydrogen, the world’s largest scale, based on by-product hydrogen in connection with the City of Incheon ‘bio-by-product hydrogen production cluster construction project’ to 2023.
The second phase plans to become the world’s number one green hydrogen company by producing an additional 250,000 tons of clean (carbon-free) hydrogen in the vicinity of the Boryeong LNG terminal by 2025.
The 30,000 tons of liquefied hydrogen produced in the first stage is the amount necessary for 75,000 hydrogen cars, Nexo, to travel around the Earth at the same time (about 46,520 km). The same carbon reduction effect as the planting of 12 million trees is expected to contribute greatly to environmental aspects such as improved air quality in the metropolitan area.
When an additional 250,000 tonnes are produced in the second stage, SK will produce and supply a total of 280,000 tonnes of green hydrogen per year in Korea. It plans to promote hydrogen projects in Asia, including China and Vietnam, using these business experiences and capabilities.
In the process of establishing a national hydrogen ecosystem, SK created jobs in the fields of construction, shipbuilding and automobile manufacturing, as well as hydrogen and fuel cell production, resulting in a total of 20.9 million employment induction effects and social / economic benefits of KRW 34.1 trillion, including Incheon. Its creation is anticipated.
Large-scale investment, such as the construction of hydrogen charging stations and fuel cell power plants.
In addition to the supply of liquefied hydrogen, active investments will be made in the establishment of a green hydrogen distribution system.
SK plans to supply 80,000 tons of liquefied hydrogen per year by operating 100 hydrogen charging stations across the country by 2025. To this end, a fuel cell power plant of about 400 megawatts (MW) is being built and they supply 200,000 tons of hydrogen per year through a dedicated pipeline.
As part of this, SK is also discussing cooperative measures in various fields to revitalize the hydrogen economy, such as the construction of a liquefied hydrogen charging station, the expansion of the introduction of hydrogen vehicles, and the construction of a center for hydrogen experience.
President Tae-won Choi, who attended the Economic Hydrogen Committee that day, said: “Hydrogen is a green energy suitable for the domestic environment because it is not affected by climate and the land area required for production is small. we will do our best to meet our corporate responsibility. “
Meanwhile, as the top executives of SK and Hyundai Motor Group, which are strengthening cooperation in the electric vehicle battery business, meet in one place, the expectations for the hydrogen trade association that these two groups are driving forward as future growth engine businesses are also increasing.
The leadership of the two groups held a meeting before the Hydrogen Economic Committee on this day to discuss concrete cooperative measures, such as promoting the establishment of the ‘K-Hydrogen Council’, which is a consultation of the CEO for the construction of charging infrastructure. hydrogen and cooperation between national companies and hydrogen business cooperation, in the first half of the year.
After the meeting, the two companies signed a business agreement with Incheon Metropolitan City and Incheon Seo-gu Bureau to lay the foundation for the Incheon Metropolitan City hydrogen business. The parties to the agreement, including SK, will actively cooperate to expand the hydrogen economy by discovering and supporting various hydrogen-related business models in the Incheon area.
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