Samsung C&T ties up with Korean firms for hydrogen biz

Samsung C&T Corp., the construction and trading arm of Samsung Group, has joined forces for the clean hydrogen businesses with South Korean companies LG Chem Ltd., Doosan Enerbility Co. and Namhae Chemical Corp.

Samsung’s trading unit said on Monday that the four companies have signed a memorandum of understanding for the production and utilization of hydrogen based on clean ammonia.

Those companies agreed to establish a value chain for the hydrogen industry including the overseas production of clean hydrogen, its import, and use in South Korea. They plan to bring clean hydrogen produced overseas into South Korea in the form of ammonia, convert it back into clean hydrogen and will verify whether the hydrogen can replace existing fossil fuels.

Samsung is set to produce clean hydrogen overseas and develop its import and utilization business using its know-how in energy trades and renewable energy operations.

Namhae will work on the establishment of a clean hydrogen supply chain with its infrastructure such as ammonia storage tanks. Doosan plans to utilize technology that produces clean hydrogen by decomposing clean ammonia and will make efforts to build plants that use clean hydrogen production.

LG Chem will cooperate to commercialize clean hydrogen by using it as fuel and developing catalysts to be used for petrochemical products.

Write to Ik-Hwan Kim at lovepen@hankyung.com
Jongwoo Cheon edited this article.