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| Prime Minister Chung Sye-kyun, center, poses with Hyundai Motor Group Chairman Chung Euisun, third from left, and SK Group Chairman Chey Tae-won, fifth from left, during a signing ceremony for an MOU on hydrogen related businesses between Hyundai Motor Group, SK Group and Incheon Metropolitan City, at SK Incheon Petrochem, Tuesday. From left are Incheon Seo-gu Office Head Lee Jae-hyun, Incheon Mayor Park Nam-choon, Chung, Prime Minister Chung, Chey, Hyundai Motor President Kong Young-woon and SK E&S CEO Choo Hyeong-wook. Courtesy of Hyundai Motor Group |
By Kim Hyun-bin
Hyundai Motor Group and SK Group are partnering to create a so called "hydrogen alliance" to better establish the groundwork for a nationwide hydrogen ecosystem.
SK Chairman Chey Tae-won and Hyundai Motor Chairman Chung Euisun met Tuesday on the sidelines of the third Hydrogen Economy Committee event, hosted by Prime Minister Chung Sye-kyun at the SK Incheon Petrochem headquarters in Incheon, to discuss increased cooperation in the hydrogen sector.
In order to promote hydrogen as a clean energy source, the two shared the view that it was imperative to emphasize that its use would help the country achieve carbon neutrality. To do this, they noted, it will be necessary for them to maximize cooperation to create synergy.
Chey and Chung also agreed to cooperate in diverse fields within the sector including supplying fuel cell (that utilize hydrogen) electric vehicles (FCEVs), establishing an infrastructure for fast hydrogen filling and electric charging stations, and setting up a Korea Hydrogen Council to oversee the envisaged hydrogen ecosystem.
"Hydrogen is not only an energy source but can also be utilized for energy storage, and it is expected to play the role of an energy currency in the coming carbon neutral world," Chung said. "Through cooperation with SK Group we are seeking to establish a hydrogen economy that can systematically produce and distribute hydrogen, leading to the realization of a hydrogen society."
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| Figure 1Hyundai Motor Group Chairman Chung Euisun, right, SK Group Chairman Chey Tae-won shake hand in front of KiaNIRO EV at the SK Innovation Seosan battery plant in July. / Courtesy of Hyundai Motor, SK Group |
"Hydrogen is not affected by the climate and requires a small area for production, so it is an eco-friendly energy source that suits the terrain of our country," Chey said. "SK is at the forefront in establishing the country's hydrogen ecosystem, and we will do our upmost to realize carbon neutrality by 2050."
Diverse business models are in consideration to expand the supply of FCEVs and create synergy among the two conglomerates. First, Hyundai will switch out 1,500 vehicles in operation by SK Group to FCEVs; followed by supplying it with fuel-cell powered cargo trucks in 2022 and tractors in 2024
The two will also build a fast filling and charging FCEV infrastructure. By the end of this year commercial hydrogen charging stations will be constructed at SK Energy's NeTruck House in Incheon and Ulsan. They are currently discussing installing hydrogen filling stations nationwide at SK gas stations along with establishing 200 kilowatt EV charging stations.
Together with the government, the two companies will launch the Korea Hydrogen Council, a CEO consultative group, in the first half of the year to enhance cooperation between local firms the sector.
"The government will establish a support system for the production, distribution and utilization of liquid hydrogen in order to provide a cheap supply, in addition to coming up with safety standards and making systematic improvements so that private sector investments in the field can be fully realized," Prime Minister Chung said
Hyundai and Kia Motors have been working closely with SK in the EV sector with SK Innovation becoming the first supplier of the companies' EV Electric-Global Modular Platform (E-GMP). Cooperation in the hydrogen business will further strengthen the two companies' efforts to achieve carbon neutrality.
