South Korea has been busy strengthening its hydrogen links with the US, signing 23 Memoranda of Understanding (MOUs) covering clean energy, high-tech industrial areas and more. Of the 23 agreements, 13 were signed in the clean energy sector, with a focus on hydrogen-ammonia blending technology and carbon capture, utilisation and storage (CCUS) among other joint R&D and technology cooperation. The clean energy MOUs mark a significant expansion of cooperation from traditional energy sectors like oil and gas to new areas such as small modular reactors, renewable energy and critical minerals.
In addition to the MOUs, a clean hydrogen supply chain MOU was also signed between Korean and US companies. Notable participants included Korea's Doosan, Doosan Robotics, SK, HD Korea Shipbuilding & Offshore Engineering, Hyundai E&C, Lotte Chemical, KEPCO, KHNP, as well as US companies such as Boeing, Rockwell, GE Vernova, Centrus Energy, TerraPower, NuScale, Holtec International, ExxonMobil, Plug Power and Siemens.
Furthermore, US companies have agreed to invest $1.9bn in Korea's hydrogen, semiconductor and eco-friendly businesses, a substantial increase from the $1.2bn pledged during the North American investors' roundtable held in September last year. The investment will see US-based companies specialising in hydrogen, semiconductors and carbon-neutral technology build facilities for clean hydrogen, semiconductors, related equipment parts, waste plastic recycling and cryogenic cold chain logistics in Korea. This deal is expected to greatly contribute to domestic clean hydrogen commercialisation, supply chain expansion and hydrogen mobility supply scale-up.
South Korea also recently launched a blue hydrogen production facility in the southeastern city of Changwon, the first of its kind in the country. The Ministry of Environment and the Changwon city government held a completion ceremony for the carbon dioxide capture and utilisation facility on 28 April.
