Presenting a vision for the hydrogen business, Hyundai Heavy Industries (HHI) transitioned to a shipbuilding, offshore, and energy company that will lead the future eco-friendly market. The group focuses its capabilities on the hydrogen business centered on Korea Shipbuilding & Offshore Engineering (KSOE) and Hyundai Oil Bank.

The group announced that the Hydrogen Dream 2030 Roadmap is one of its future growth plans. By 2030, they will build a hydrogen value chain covering production, transportation, storage, and hydrogen utilization on land and at sea based on the infrastructure and technological competitiveness of each affiliate company.

KSOE, the holding company of the HHI group, will lead the production and supply of hydrogen. It will also handle transportation, which is the most important element in building a hydrogen value chain. KSOE will promote the development of green hydrogen using offshore wind power generation and water electrolysis technologies. Inverters and power generation facilities inside the wind power generation plant will be supplied by Hyundai Electric. The group is reviewing the provision of a total solution that supplies major parts, along with the plant installation business. The group will exert efforts on the development of hydrogen carriers for a stable supply of hydrogen. It will also develop a hydrogen fuel cell propulsion ship to which hydrogen fuel cells and hydrogen fuel supply system technology are applied.

A hydrogen fuel cell propulsion ship is a ship that uses hydrogen, which is a clean fuel, as its propulsion power. It can increase energy efficiency by more than 40% compared to existing internal combustion engines, and it does not emit any air pollution substances, such as sulfur oxides and nitrogen oxides. The commercialization of ammonia propulsion ships, which is an intermediate stage before shifting to hydrogen ships, is expected to move up by about a year. However, the goal is to commercialize them in 2025.