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Hydrogen economy

Korea’s hydrogen council to launch Sept. 8; Hyundai to unveil new tech

Hyundai Motor to showcase new hydrogen mobility technology and next-generation fuel cell systems

By Aug 26, 2021 (Gmt+09:00)

Leaders of Hyundai, POSCO, Hyosung and SK (from left) agree to launch Korean hydrogen council
Leaders of Hyundai, POSCO, Hyosung and SK (from left) agree to launch Korean hydrogen council

The South Korean version of the Hydrogen Council, a global CEO-led initiative to harness the clean energy source, will officially launch on Sept. 8 as the country’s big conglomerates unite to facilitate the shift toward a hydrogen economy.

The consultative body, tentatively named the K-Hydrogen Council, will begin work by hosting a summit of business leaders on the sidelines of the H2 Mobility + Energy Show 2021, which opens for three days from Sept. 8.

The summit will be attended by chief executives and other top-level officials from the country’s 10 biggest conglomerates, according to industry officials on Thursday.

In early June, Hyundai Motor Group Chairman Chung Euisun, SK Group Chairman Chey Tae-won and POSCO Chairman Choi Jeong-woo agreed to launch an industry-wide consulting body on hydrogen to discuss ways for major companies to cooperate on hydrogen-related projects and carbon-neutrality targets.

The leaders said the non-governmental organization will be tasked to encourage corporate investments, establish the domestic hydrogen ecosystem and expand the hydrogen value chain globally.

The three leaders will co-chair the hydrogen council, whose members include Hyosung Group Chairman Cho Hyun-joon and Doosan Group Chairman Park Jeong-won.

The industry-wide push comes as tougher global environmental regulations on carbon emissions are driving governments and private companies to embrace the hydrogen economy, which utilizes hydrogen as a fuel for heat, hydrogen vehicles, energy storage and long-distance energy transport.

▲ Hydrogen Wave: A New Wave for Hydrogen Society | Hyundai Motor Group

KOREA’S ANSWER TO GLOBAL HYDROGEN ORGANIZATION

The Korean council will be something similar to the Hydrogen Council, a global initiative of 109 leading energy, transport, industry and investment companies with a united and long-term vision to develop the hydrogen economy.

The key ambitions of the worldwide organization are to accelerate significant investment in the development and commercialization of the hydrogen and fuel cell sectors, and encourage key stakeholders to increase their backing of hydrogen as part of the future energy mix.

The inaugural members of the Hydrogen Council launched in 2017 include energy companies such as Saudi Aramco, Shell, Total and automakers including Hyundai Motor, BMW, Daimler, Audi and Toyota.

The Korean hydrogen council will start with 10 business conglomerates and later ask leaders of smaller companies to join in a coordinated move to underscore an enhanced corporate commitment to the paradigm shift to a hydrogen economy.

The South Korean government aims to achieve carbon neutrality by 2050.

Hydrogen as a clean energy source
Hydrogen as a clean energy source

HYUNDAI’S HYDROGEN WAVE


Hyundai Motor Co. said it will host Hydrogen Wave, a virtual global forum, on Sept. 7 to showcase its outlook and blueprints for a future hydrogen society, including breakthrough hydrogen mobility ideas and technologies.

While unveiling three video teasers of the event on Thursday, Hyundai said it will unveil at the online forum “exciting plans and business strategies for new hydrogen mobility technology, next-generation fuel cell systems and applications available for diverse industries beyond the automotive sector.”

The forum starts at 3 p.m. Seoul time on Sept. 7.

▲ Hydrogen Wave: A New Wave for Hydrogen Society | Hyundai Motor Group

Hyundai Motor Group has said it will inject 11.1 trillion won into the development of hydrogen cars and hydrogen fuel cells, while installing more charging stations over the next few years.

Under Hyundai’s mid- to long-term fuel cell roadmap unveiled in 2018, Hyundai Motor aims to produce 500,000 hydrogen-powered vehicles and 700,000 fuel cell systems by 2030 to solidify its leadership in the global hydrogen vehicle market.

Write to Kyung-Min Kang, Jeong Min Nam and Hyung-Kyu Kim at Kkm1026@hankyung.com

In-Soo Nam edited this article.

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