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17 Korean hydrogen firms to launch hydrogen Fund in July

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On July 6-7, 2022, the Korea H2 Business Summit will be hosted in Dongdaemun Design Plaza in Seoul. 17 member businesses, including Hyundai Motor, SK, and POSCO, will convene to discuss the future of the hydrogen business and hold the Hydrogen Fund’s inauguration ceremony (tentative name).

The 2022 Investor Day will feature a keynote address by Deloitte Consulting, the Consultative body’s secretariat. Mirae Asset, which has been appointed as the representative operator of the Hydrogen Fund (working title), will unveil the fund’s composition and future investment strategy. Undetermined is the proportion of each company’s investment in the size of the fund.

The Hydrogen Fund was established to create domestic hydrogen demand through large-scale investments and to jointly develop technologies and infrastructure that encompass hydrogen supply, transportation, storage, and utilization as a stepping stone for the development of the hydrogen ecosystem in Korea.

A presentation session will also be presented to provide an overview of the current status of member companies’ hydrogen businesses and their future plans and goals for the industry. Each organization will be primarily represented by executives in charge of the new business. In addition, it is anticipated that member companies will conduct business and investment opportunity exchanges at various booths.

In addition, high-ranking representatives from domestic and international public agencies and international businesses will attend the event next month. The International Renewable Energy Organization, the New York State Pension Fund, and the London Pension Fund have been asked to deliver speeches and presentations. In addition, executives from international financial institutions such as Barclays, BNP Paribas, and Engi, Intercontinental Energy, and Osteed will attend lectures on investment opportunities in the worldwide hydrogen and decarbonization markets.

In contrast, the Korea H2 Business Summit, the largest private hydrogen consulting body in Korea, was established last September to encourage hydrogen business cooperation between member companies. Invite global investors to promote hydrogen-related investment. Propose hydrogen-related policies for the joint discovery of hydrogen technology with international partners. Lead the global hydrogen agenda to accelerate the expansion of the hydrogen economy.

Nedim Husomanovic

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