- Established a blue hydrogen production cluster in Yeosu Myodo Island with Hanyang Corporation and others to attract foreign capital -

【Kim Dae-in, Head of Investment Promotion 286-7210, Choi Jongmin, Head of Foreign Investment Promotion 286-5120】

【Park Do-hwan, Head of Livestock Policy 286-6510, Kim Sung-jin, Head of Livestock Resources 286-6550】

(Attached are 6 photos of the Myodo Island Blue Hydrogen Investment Agreement, BASF, and Biogasanlage Karben in Germany)
Jeollanam-do Governor Kim Yung-rok, who is on a European tour, signed an investment agreement with Linde plc and Hanyang Corporation and others in Frankfurt, Germany, on Wednesday (local time) to build a USD 800 million (KRW 1 trillion) blue hydrogen production cluster.

As the world’s largest industrial gases and engineering company, Linde is actively investing globally in all areas of the hydrogen value chain, including green energy production, processing, and use. Beyond the construction and plant business, Hanyang Corporation is expanding into the LNG terminal business, renewable energy production, and clean hydrogen power generation.

The signing ceremony was attended by Governor Kim Yung-rok and Sean Durbin, Executive Vice President of Linde EMEA, Mr. Kim Hyung-Il, CEO of Hanyang Corporation, Mr. Sung Baek-seok, Chairman of Linde Korea, Mr. Moon Byung-cheol, CEO of Northeast Asia LNG Hub Terminal, and others.

Hanyang Corporation is constructing an LNG terminal on Myodo Island and is pushing to build a co-generation power plant. Linde and Hanyang Corporation are planning to produce blue hydrogen and develop a clean hydrogen power generation business here. They are planning to invest USD 800 million between 2024 and 2030. The project will produce 80,000 tons of blue hydrogen per year, capture 430,000 tons of carbon dioxide per year, and bury 13 million tons of carbon dioxide in overseas storage for 30 years.

Hydrogen energy is a key enabler of the transition to a decarbonized economy and is used across industries such as power generation (fuel cells) and energy storage. Energy storage and generation using hydrogen are expected to contribute to the stabilization of the power grid by reducing the volatility of renewable energy.

In response, Jeollanam-do plans to establish a strong hydrogen industry ecosystem by building a green hydrogen energy R&D, demonstration, and production complex, securing a core foundation for the entire cycle, and fostering Yeosu Gwangyang Port in the Gwangyang Bay area as a hydrogen logistics center.

Jeollanam-do plans to establish new substations in consultation with KEPCO to connect the power system in a timely manner and secure essential infrastructure such as water supply and wastewater treatment facilities.

Governor Kim Yung-rok said, “We will lead the era of transition to clean energy by linking this investment with large-scale projects such as 8.2 GW offshore wind farms and green hydrogen energy islands, and we will do our best to help the investment project succeed.”

“With this agreement, we hope that Jeollanam-do, Yeosu City, Hanyang, and Linde will actively cooperate to produce blue hydrogen in Jeollanam-do and contribute to carbon neutrality through clean hydrogen power generation,” said Sean Durbin, Executive VP of Linde EMEA.

Prior to the investment agreement, Governor Kim Yung-rok visited BASF’s headquarters in Ludwigshafen, Germany, where he expressed his gratitude for the mutual growth efforts with Jeollanam-do and proposed continued investment in future growth industries such as fine chemicals, semiconductor and battery materials, and renewable energy.

“BASF is considering diversifying its business into offshore wind power and secondary battery as future growth industries, and we will actively discuss investment with Jeollanam-do, a strategic business partner,” said Rainer Geier, senior vice president of BASF.

Then, Governor Kim visited a livestock manure biogas facility in Karben, Germany, which has the largest number of biogas facilities in the world, to learn more about the facility, its operation, and how it manages odors.

Livestock manure biogas facilities are effective in producing not only gas but also electricity and reducing greenhouse gases. It is also possible to create a win-win situation with the local community by supplying waste heat from power generation to the residents.

“Biogas facilities are important for carbon neutrality by reducing greenhouse gas emissions,” said Governor Kim Yung-rok. “We will prepare for carbon neutrality and win-win solutions for the residents by switching from compost and manure recycling to biogas facilities.”

◇Photo Description

(Myodo Island Blue Hydrogen Production Cluster Creation Investment Agreement 1)
Jeollanam-do Governor Kim Yung-rok, who is touring Europe, signed a USD 800 million investment agreement with Linde and Hanyang to create the Myodo Island Blue Hydrogen Production Cluster at the Marriott Hotel in Frankfurt, Germany, on March 3 (local time). (From left, Kim Jong-ki, Vice Mayor of Yeosu, Kim Yung-rok, Jeollanam-do Governor, Sean Durbin, Head of Linde Europe, Middle East and Africa (EMEA), Sung Baek-seok, President of Linde Korea, and Kim Hyung-il, President of Hanyang Corporation)

(Myodo Island Blue Hydrogen Production Cluster Creation Investment Agreement 2)
Jeollanam-do Governor Kim Yung-rok, who is on a tour of Europe, presents a souvenir to Linde’s Head of Europe, Middle East, and Africa (EMEA), Sean Durbin, during an investment agreement ceremony to create a blue hydrogen production cluster in Myodo Island at the Marriott Hotel in Frankfurt, Germany, on March 3 (local time).

(German BASF Investment Roundtable 1 and 2)
Jeollanam-do Governor Kim Young-rok, who is visiting Europe, visited BASF’s headquarters in Ludwigshafen, Germany, on March 3 (local time) and delivered an investment proposal to Senior Vice President Rainer Geier that is highly relevant to the development of core industries and future investment strategies between Jeollanam-do and BASF.

(Biogasanlage Karben Inspection in Germany 1)
Jeollanam-do Governor Kim Young-rok, who is on a tour of Europe, visited Biogasanlage Karben in Frankfurt, Germany, on March 3 (local time) to hear about the current situation from Karben CEO Falk Henke and tour the facilities.

(Biogasanlage Karben Inspection in Germany 2)
Jeollanam-do Governor Kim Yung-rok (center), who is on a tour of Europe, takes a photo with Biogasanlage Karben CEO Falk Henke during a visit to Biogasanlage Karben in Frankfurt, Germany, on Wednesday (local time).