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Korea: Yeosu Gwangyang Port Authority Signs a Business Agreement to Build a Hydrogen Port

By June 16, 2022 2   min read  (343 words)

June 16, 2022 |

Fuel Cells Works, Korea: Yeosu Gwangyang Port Authority Signs a Business Agreement to Build a Hydrogen Port

Yeosu Gwangyang Port Corporation has signed a memorandum of understanding with South Jeollanam-do, Yeosu City, Gwangyang City, Namhae Chemical, Samsung, POSCO Holdings, GS Caltex, and Hanyang Co., Ltd. regarding the basic concept of constructing a hydrogen circulation sharing network in Yeosu Gwangyang Port.

Since December of last year, YGPA has been discussing with the Yeosu Gwangyang Port Hydrogen Business Working Group, in which the public and the public participate together, to develop the Yeosu Gwangyang Port into a hydrogen leading port.

At the working-level council, a consensus was formed that a hydrogen pipeline network that can be used by related companies is needed to cover the entire port in order to create a hydrogen ecosystem in the port.

To this end, a YGPA official explained that a business agreement was signed to jointly promote the basic concept research service. Through this research service, it is planned to review not only the current status of hydrogen demand and supply in Yeosu Gwangyang Port, but also related cases, laws, systems, and technologies, establish a plan to establish a shared network, and analyze the economic feasibility of the project. President Park Seong-hyeon added, “Through this agreement, we will strive to successfully carry out research services to foster the hydrogen industry, a new growth engine, in Yeosu Gwangyang Port.”

Through this study service, we intend to examine the status of the hydrogen demand and supply in Yeosu Gwangyang Port, as well as associated cases, laws, systems, and technologies, and to assess the economic viability of the project and the building of the sharing network.

The President of Yeosu Gwangyang Port, Park Seong-hyun, stated that the port’s vast hinterland and industrial infrastructure make it the ideal location for the development of a hydrogen ecosystem.

“I think it is significant that the private and public sectors will take the first step to foster the hydrogen industry, the engine of the new growth, in Yeosu Gwangyang Port through this agreement,” Park said, adding, “We will strive to ensure that the promotion of research services goes off without a hitch.”

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