SK to Invest W18 Trillion found in Hydrogen Business
03 March, 2021
SK Group will invest W5 trillion into its hydrogen business more than another five years to be the world's greatest producer of the gas for commercial employ (US$1=W1,125).
SK chairman Chey Tae-won said in a good government-led hydrogen energy meeting on Tuesday, "Hydrogen can be an environmentally friendly strength ideal for Korea, which is not influenced by the climate and requires only a small amount of location to produce."
Hyundai chairman Chung Eui-sun as well attended the meeting. The automaker pins its future on green cars like electrical and hydrogen cell vehicles.
Affiliate SK E&S will spend W500 billion to build a liquefied hydrogen plant in its petrochemical complex in Incheon which will be capable of generating 30,000 tons of the gas annually by 2023. Once the facility is finished, SK can supply liquefied hydrogen to the complete Seoul metropolitan area.
SK will invest around W5.3 trillion until 2025 to build the world's most significant "clean" hydrogen manufacturing facility capable of producing 250,000 a great deal of the gas a year. The conglomerate will also spend W12.7 trillion to build hydrogen filling stations, distribution networks and a research center and find foreign companies.
The program is to have 100 filling stations set up across Korea by 2025, supply 80,000 a great deal of liquefied hydrogen a year, and expand the business to China, Vietnam and additional Asian markets.
"By creating a hydrogen ecosystem in Korea, we expect to create 209,000 jobs in the engineering, shipbuilding, automobile, rechargeable battery and hydrogen businesses and create W34.1 trillion worth of socio-economic benefits," a SK staffer said.
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