Visitors watch a test drive of Hyundai Motor Co.’s fuel cell trailer drone during the H2 Mobility+Energy Show, a hydrogen industry fair held at KINTEX in Ilsan, north of Seoul, on Sept. 8, 2021. (Yonhap)
SEOUL, Oct. 5 (Korea Bizwire) — Businesses are speeding up competition in the hydrogen industry as they set up new corporations or engage foreign businesses.
Doosan Group recently established Doosan H2 Innovation, a new corporation that will be in charge of developing solid oxide fuel cells (SOFC).
The group also plans to reorganize the R&D responsibilities for hydrogen fuel cells currently dispersed throughout various subsidiaries.
South Korea’s leading steelmaker POSCO plans to newly invest 20 trillion won (US$16.8 billion) in making direct reduced iron, an iron produced without using carbon dioxide.
Hydrogen reduction technology requires advanced technology and facilities that call for massive investment. POSCO plans to host various forums for global steelmakers and promote the cause of joint development.
Energy-to-telecom conglomerate SK Group joined hands with the Ministry of Oceans and Fisheries to build an eco-friendly hydrogen port system where a harbor becomes a value-chain hub that encompasses all phases of hydrogen production, import, storage, supply and utilization.
Under the terms of a new agreement, SK will set up hydrogen stations at major harbors in South Korea as well as blue hydrogen manufacturing plants.
Industry sources believe that major corporations will continue to make strategic investments in hydrogen businesses as they consider investing in establishing the value chain for the entire hydrogen economy, going beyond their current strength in hydrogen utilization.
H. M. Kang (hmkang@koreabizwire.com)
