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By Kim Hyun-bin
Koo Dong-hui, son of LS Group Chairman Koo Ja-yeol, is spearheading a hydrogen drive as one of the conglomerate's future growth engines. Koo recently joined the so-called Hydrogen Committee created by leading conglomerates including Hyundai Motor Group, SK Group and POSCO Group.
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| Koo Ja-hui |
Koo plans to utilize his position as the CEO of E1, which imports and distributes liquefied petroleum gas (LPG) as well as running LPG filling stations, to begin to establish both a hydrogen distribution network and value chain.
According to industry sources, Friday, the company has been transforming three LPG filling stations in the capital region to also offer hydrogen.
E1 inked a memorandum of understating (MOU) with the Ministry of Environment to speed up the establishment of dual LPG and hydrogen filling stations in the capital region. The company is also constructing dual hydrogen, LPG filling stations in other regions of the country.
Koo attended the formation of the Hydrogen Committee at the Korea H2 Business Summit at KINTEX in Gyeonggi Province, Wednesday, along with the leaders of the involved conglomerates including Hyundai Motor Group, SK Group and Lotte Group. They formed the committee to boost the cutting of carbon emissions and to gain a leading position in the global hydrogen industry that is predicted to become a 3,000 trillion won market by 2050.
The official launch ceremony was attended by Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won and Lotte Group Chairman Shin Dong-bin and Hanwha Group President Kim Dong-kwan who are among the 15 cooperating firms' executives.
E1 distributes nearly half of the local LPG imports and will be in charge of establishing a hydrogen supply network. Currently, it operates 350 LPG filling stations nationwide, among which 100 are fully owned by the company.
Koo has swiftly climbed the corporate ladder since joining the company, being promoted to CEO of E1 in March this year. He has been in charge of the group's future businesses, having his grip within the conglomerate cemented.
