Hyosung Heavy Industries announced on Feb. 5 that it has signed a joint venture (JV) deal with Linde plc, the world’s largest industrial gas company, to promote its liquefied hydrogen business.

A hydrogen charging station in Ulsan, which was set up by Hyosung Heavy Industries in 2018

Under the contract, Linde Hydrogen will build a 13,000-ton liquefied hydrogen plant on the site a site in Ulsan owned by Hyosung Group by early 2023. It will be the largest in the world as a single hydrogen plant. Ground will be broken as early as February.

Hyosung Hydrogen plans to build hydrogen charging stations in more than 120 locations across the country to supply hydrogen from the joint venture plant. The plant will produce 13,000 tons of liquefied hydrogen per year, an amount that can fuel 100,000 hydrogen cars a year. It will reduce 130,000 tons of harmful gas emissions.

"We will establish a hydrogen energy production, distribution and sales system, which is the core of revving up the hydrogen economy," said Cho Hyun-joon, chairman of Hyosung Group. "We will solidify our status as a leading company in the hydrogen sector."

"The Korean government has high expectations for hydrogen electric vehicles," said Sung Baek-seok, chairman of Linde Korea. "We will speed up the growth of the hydrogen industry in Korea with Hyosung."