Ulsan City has inked a groundbreaking agreement with K&D Energen Co., Ltd. to establish a new hydrogen gas production plant. Valued at an impressive 218.5 billion won, this investment signals not only a significant economic venture but also a crucial step in advancing Ulsan’s role in the hydrogen industry.
The investment agreement, signed at Ulsan City Hall, brings together the collaborative efforts of Ulsan City and K&D Energen. The agreement outlines the construction of a state-of-the-art hydrogen gas production plant with a staggering capacity of 92,000 N㎥ per hour. Slated to be the largest commercial production facility of its kind in Korea, the plant will occupy a 33,000㎡ site in the Onsan National Industrial Complex, Ulju-gun, Ulsan.
K&D Energen, a joint venture between Deokyang Energen Co., Ltd., specializing in industrial gas, and Kukdong Petrochemical Co., Ltd., a leader in liquid paraffin and special lubricants, is set to commence construction in May of the coming year. The ambitious timeline aims for the completion of construction by April, highlighting the urgency and commitment in realizing this monumental project.
The collaboration extends beyond infrastructure development. Ulsan City and K&D Energen have committed to prioritizing the hiring of Ulsan citizens, aiming to stimulate the local economy and create job opportunities. This cooperative effort aligns with Ulsan’s broader vision of becoming a hub for eco-friendly energy, establishing a comprehensive supply chain from production to utilization of hydrogen.
The establishment of this hydrogen gas production plant marks a pivotal achievement for Ulsan in its pursuit of eco-friendly energy dominance. The city’s goal to become a center city for green energy in Northeast Asia is bolstered by initiatives like the 188km hydrogen transportation pipeline network, 12 hydrogen charging stations, and the distribution of 2,969 hydrogen electric vehicles.
CEO Kim Ki-cheol of K&D Energen expressed optimism about the project, stating, “Based on the technology we have accumulated in the field of hydrogen gas production, we will be able to leap forward as a global company that contributes to the local economy.” Mayor Kim Doo-gyeom emphasized the investment’s role in strengthening Ulsan’s hydrogen industry ecosystem and positioning the city as a leader in the hydrogen economy.
With Ulsan already contributing to over 50% of the nation’s hydrogen production, future plans include developing a liquefied hydrogen production plant, demonstrating an ammonia-based clean hydrogen facility, and creating a hydrogen complex in the North Port hinterland. These visionary steps position Ulsan not only as a regional leader in hydrogen production but as a global player in the sustainable energy landscape. The investment in the hydrogen gas production plant is not just a monetary transaction; it’s a catalyst for Ulsan’s green energy aspirations and a testament to its commitment to shaping a sustainable future.
