Gwangyang announces 2050 hydrogen economy vision

It was said by the city of Gwangyang that the ‘2050 Gwangyang Vision as the Center for Hydrogen Economy’ represents the city’s determination to achieve its efforts to minimize greenhouse gas emissions and transition to a low-carbon society in order to address climate change issues.

Gwangyang Mayor Jeong Hyeon-bok read the vision declaration at the 2050 hydrogen economy central city proclamation ceremony, which was followed by a video presentation of the hydrogen economy vision and the reading of the vision declaration by Gwangyang Chamber of Commerce Chairman Lee Baek-gu, as well as a hologram performance by nine people, including lawmaker Seo Dong-yong and POSCO hydrogen general manager Min Chang-ki. The ceremony was followed by a video presentation of the hydrogen economy vision

As part of the proclamation, Mayor Jeong Hyun-bok vowed to do all in his power to turn the city into a hydrogen economy hub, helping the city achieve carbon neutrality and transitioning to a low-carbon society.

In addition, a hydrogen pilot city and a hydrogen-specialized complex will be established in order to improve urban competitiveness by promoting the hydrogen industry based on clean energy hydrogen as a strategic industry for future growth, as well as to develop an environmentally friendly hydrogen ecosystem infrastructure for hydrogen production, storage, supply, and consumption. In addition, a plan was provided.

Close cooperation and support will be maintained in order to achieve carbon neutrality in the steel industry and carbon neutrality in Gwangyang Port, and local jobs will be created and the local economy will be revitalized by fostering, discovering, and supporting hydrogen-specialized companies and related industries.

In order to fulfill this objective, Gwangyang City will apply for a hydrogen pilot city contest in 2022, and it will offer 750 hydrogen commercial cars and 700 hydrogen passenger vehicles as part of the competition (by 2026) a single hydrogen distribution center (by 2026) In the year 2025, 100MW of hydrogen fuel cell electricity will be generated. There are eight hydrogen refueling stations (by 2030) 40,000 tons of by-product hydrogen-generating facilities are being developed (by 2025) Construction of a port terminal that will exclusively accept hydrogen (in Jeollanam-do).

As part of the ‘Hydrogen pilot city public offering project,’ which is being hosted by the Ministry of Land and Infrastructure and Transport, a private consultative body will be established with companies to develop a public offering project promotion strategy, which will include attracting the private sector to take part in the project.

In a business agreement signed on August 3 between the city of Jeollanam-do, the city of Gwangyang-si, and POSCO, the company is pushing the ‘Gwangyang-si hydrogen industry development basic plan service,’ with a project budget of 200 million won.

Among the services expected to be provided by POSCO as part of the hydrogen industry development basic plan service, which is scheduled to be completed in October next year, are the development of a roadmap for the basic plan for the hydrogen industry in Gwangyang City and the discovery of the company’s hydrogen-related businesses.