'K-Hydrogen Alliance'... After Hyundai Motor, SK and Posco, Hyosung also joined forces

Hyundai Motor Group, SK Group, POSCO Group and Hyosung Group will establish a "K-hydrogen alliance" to realize the hydrogen society.

Hyundai Motor Group Chairman Chung Eui-sun, SK Group Chairman Choi Tae-won, POSCO Group Chairman Choi Jung-woo and Hyosung Group Chairman Cho Hyun-joon discussed the establishment of a hydrogen company consultative body at the Hyundai-Kia Technology Research Institute in Hwaseong, Gyeonggi Province on the 10th.

The Hydrogen Enterprise Consultative Body will be operated in the form of an CEO consultative body and will be co-chaired by three groups: Hyundai Motor Group, SK Group and POSCO Group.

The participating companies will be confirmed by July, and the CEO general meeting will be held in September to formalize the launch.

It is expected to play a key role in realizing a hydrogen society by encouraging domestic companies to promote investment by holding regular general meetings and forums and expanding the value chain in the hydrogen industry.

The four groups will carry out hydrogen-related projects and investments or drive companies planning to participate in the consultative body.

Hyundai Motor Group, SK Group, POSCO Group, and Hyosung Group plan to lead the era of decarbonization by concentrating more capabilities on hydrogen-related businesses along with the establishment of a hydrogen business council.

As the four groups'hydrogen investment is specialized in production, distribution and consumption, it is predicted that they will create synergy by upgrading their respective businesses.

Reporter Lee Ji-sun stockmk2020@gmail.com