Korea H2 Business Summit, an industry council for hydrogen economy initiated by Hyundai Motor, SK, and Posco in March, has gained momentum with 12 other conglomerates joining as the founding members to back the promotion of hydrogen fuel and value chain.

The Korean version of the Hydrogen Council, a global CEO-led coalition working to accelerate the energy transition through hydrogen, officially kicked off on Wednesday with an inaugural meeting held on the sideline of the H2 Mobility+Energy Show at KINTEX in Ilsan, north of Seoul.

Korea H2 Business Summit has now 15 member companies deeply involved in hydrogen business, including Hyundai Motor, SK, Posco, Lotte, Hanwha, GS, Hyundai Heavy Industries, Doosan, Hyosung, Kolon, Isu, Iljin, E1, Korea Zinc, and Samsung C&T.

The private sector`s move aims to promote business cooperation among member companies and provide policy insights to the government’s plan to shift from carbon to green as part of its net zero emission goal by 2050. The expected roles include inviting global investors to promote hydrogen-related investment, joint exploration of overseas hydrogen solutions and partners, as well as policy proposal and global agenda setting for hydrogen economy.

The business council will hold an annual conference for all member companies to discuss major issues every September. Member companies will also have regular meetings to draw detailed implementation plans on technology, policy, and global cooperation. The business council will also invite local and overseas investors to its Investor Day programs to promote hydrogen-related investment.

They held the H2 Business Summit, for a four-day run, with more than 150 companies and research institutions from 12 countries.

After the inaugural meeting, business leaders and CEOs of the 15 member companies including Hyundai Motor Chairman Chung Eui-sun toured the H2 Mobility+Energy Show that began on Wednesday. The exhibition joined by 154 companies and institutions from 12 countries is designed to showcase products and solutions in the fields of hydrogen mobility, hydrogen charging infrastructure, and hydrogen energy for four days.

By Park So-hyun and Minu Kim

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