- Governor Yang Seung-jo signs a business agreement to build a foundation for the activation of the hydrogen economy
- Establishment of medium and large-sized hydrogen delivery facilities
Chungcheong Province, also known as Chungnam, as part of revitalizing the hydrogen economy, laid the foundation for hydrogen distribution and hopes to significantly lower hydrogen prices.On the 28th of May, Yang Seung-jo, signed the ‘Agreement to Create the Foundation for Hydrogen Economy in Chungnam-do’ with Mayor Kim Hong-Jang, Dangjin Mayor, Jong-soo Yoo, CEO of Hydrogen Energy Network, and President Kim Bang-hee of the Korea Hydrogen Industry Association.
In this non-face-to-face agreement, the key is to lower the hydrogen price through the establishment of mid-to-large hydrogen delivery facilities and to strengthen the autonomy of hydrogen charging stations to create a foundation for the hydrogen economy.
The main contents of the agreement include building 6 billion won (100% of private capital) on the site of approximately 9,900㎡ of Songsan 2 general industrial complex in Dangjin and building a ‘by-product hydrogen shipping center’, a medium-sized hydrogen delivery facility.
Compressors (3 units of 1000m2 / h or 5 units of 500m2 / h) and dumps for the hydrogen transportation of tube trailers will be built here, and the goal is to be completed in April 2021.
When this center is established, it secures 1,700 tons of hydrogen per year (8,500 hydrogen vehicles).
In particular, as shipping and transportation, which accounts for 75% of the hydrogen distribution cost, are entrusted to specialized companies, hydrogen prices become cheaper.
When the actual center is established, the price of hydrogen, which is about 8,000 ~ 8800 won per kg, becomes more than 40% cheaper at 5000 won.
Separately, the contents of the agreement also included the construction of a hydrogen filling station along National Route 32 between Dangjin City and Seosan City.
Yang Seung-jo, Chungnam Governor, said, “Chungnam is rich in by-product hydrogen because it has three major steelworks and chemical complexes in Korea,” and said, “Chungnam will spare no administrative or financial support to foster a hydrogen-related industry and to build a foundation.”