Korea Zinc, a leading player in non-ferrous metal smelting, has set its sights on a bold new direction, venturing into the realms of new and renewable energy, resource circulation, and secondary battery materials. Under the leadership of Chairman Yoon-beom Choi, the company is poised to diversify its business portfolio and embrace sustainable energy solutions, including green hydrogen.
This article explores Korea Zinc’s plans to accelerate its hydrogen infrastructure development, its ‘Troika Drive’ growth strategy, and its commitment to eco-friendly initiatives.
Chairman Choi has unveiled the ‘Troika Drive’ as Korea Zinc’s future growth strategy, aimed at propelling the company into three major new businesses: resource circulation, new and renewable energy, and secondary battery materials. With a legacy primarily rooted in non-ferrous metal smelting, Korea Zinc seeks to transition into innovative sectors that align with sustainability goals and renewable energy initiatives.
The company is laying the groundwork for hydrogen infrastructure development, recognizing the potential of green hydrogen as a game-changing energy source. By producing green hydrogen at its new and renewable energy complex in Australia, Korea Zinc aims to bring this clean energy to Korea and produce eco-friendly zinc (green zinc) by 2050.
Korea Zinc’s commitment to new business ventures is evident in its foray into green hydrogen, secondary battery materials, and waste battery recycling. The company is establishing joint ventures related to nickel sulfate, precursors, and copper foil as it enters the secondary battery material business. Embracing eco-friendly initiatives, Korea Zinc’s Australian subsidiary, Arc Energy, formed a consortium to export and supply over 1 million tons of green ammonia from Australia to Korea by 2032.
The company is actively constructing large-scale green hydrogen and green ammonia production facilities in its Queensland, Australia, complex. With a maximum power generation capacity of 3,000 MW, these facilities are expected to revolutionize the production and utilization of green hydrogen. Moreover, Korea Zinc’s Australian production complex houses a pilot project utilizing green hydrogen, produced using solar energy, as a power source for transportation trucks.
Chairman Choi, who took office in 2014, has been a driving force behind Korea Zinc’s entry into the new business field. Under his leadership, the company leveraged its technological expertise to identify and excel in the three major new industries: resource circulation, new and renewable energy, and secondary battery materials.
In an unprecedented move, Chairman Choi initiated a town hall meeting, fostering open communication between executives and employees. This reflects a new era of collaboration and transformation under his leadership, as Korea Zinc embraces change and innovation.
Korea Zinc’s ambitious plans for renewable energy and green hydrogen signify a transformative journey towards a sustainable and eco-friendly future. By leveraging its expertise in non-ferrous metal smelting, the company is embracing new opportunities in green hydrogen and renewable energy sectors. The ‘Troika Drive’ growth strategy reflects Korea Zinc’s commitment to driving the energy transition and fostering a greener world.