SEOUL, September 01 (AJP) - Ulsan City said Monday that it had signed an agreement with Deokyang Energen, a fuel gas and pipeline company, to build a hydrogen production and distribution center, as the city seeks to cement its role as a leader in the nation’s hydrogen economy.
Under the memorandum of understanding, Deokyang Energen will invest 22 billion won, or about $15.9 million, to construct the facility by October 2026 in Hwangseong-dong, within the Ulsan Mipo National Industrial Complex.
The project will include a production plant capable of generating 2,400 cubic meters of hydrogen an hour — enough, officials said, to simultaneously refuel about 10 hydrogen-powered buses.
At a signing ceremony, Mayor Kim Du-gyeom pledged to support the project with streamlined permits and other administrative assistance.
“This agreement represents an opportunity for Ulsan to advance further as a leading city in the hydrogen economy,” he said, adding that the city would expand its supply infrastructure to foster growth and create jobs.
The announcement follows a separate deal in May with Korea Southern Power, which plans to spend 600 billion won, or $432 million, to build a 135-megawatt clean hydrogen power plant in the city. Construction is scheduled to begin in 2029, with completion expected in 2031.
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