(image: Korea Bizwire)
SEOUL, May 4 (Korea Bizwire) — South Korea’s state utility Korea Electric Power Corp. (KEPCO) has launched an initiative to create a hydrogen ecosystem, including the commercialization of hydrogen and ammonia power generation, through a collaboration with private companies.
KEPCO recently signed a memorandum of understanding with Lotte Chemical Corp. and POSCO Holdings Inc. to expand cooperation in the hydrogen sector.
Tthe three companies will strive to achieve economies of scale by jointly carrying out hydrogen and ammonia projects that they have implemented separately in and outside South Korea, while enhancing project competitiveness through the establishment of hydrogen production infrastructure and joint investment.
By leveraging hydrogen and ammonia swaps, they will attempt to reduce risk from external factors and to lay a foundation to supplement each other, thereby being able to respond more proactively to changes in the business environment.
They will also jointly develop mixed combustion power generation technology that uses hydrogen and ammonia mixed fuel for existing coal and liquefied natural gas (LNG) power generation to reduce carbon emissions, while carrying out joint studies on carbon dioxide capture, utilization and storage (CCUS) technologies.
J. S. Shin (js_shin@koreabizwire.com)
