Launched’Energy Alliance’ such as Hyundai Motor Company, SK, Hyosung, etc. “I will seek cooperation between companies”

Major domestic energy companies voluntarily launched the’Energy Alliance’, an alliance to create carbon neutrality and new growth engines, and began to explore areas where they can cooperate with each other. This is the first time that Korean private energy companies have formed a voluntary alliance on carbon neutrality.

According to industry sources on the 6th, major domestic energy companies and Hyundai Economic Research Institute held the inauguration ceremony of the’energy alliance’ and signed a mutual cooperation business agreement (MOU). In the Energy Alliance, 9 companies including △Hyundai Motor Company △SK E&S △Hanwha Energy △Hyosung Heavy Industries △POSCO Energy △GS Energy △Doosan Heavy Industries △E1 △DL Energy and Hyundai Economic Research Institute participated.

The Energy Alliance was formed after meeting with major private energy companies from the beginning of this year with the aim of jointly responding to related policies and contemplating business strategies in line with the global decarbonization trend.

SK E&S Vice Chairman Yoo Jeong-jun was elected as the first chairman. Vice Chairman Yu said, “In Korea, industries are concentrated in industries with high carbon intensiveness.” He said, “If we do not actively evolve this industrial structure, it will be reformed.” He did not hide the sense of crisis.

He said, “The world’s major countries and global companies are competing in infinite competition to preoccupy the era of carbon-neutrality. I will do it.”

Vice Chairman Yoo is scheduled to take office at the inaugural general meeting of the Energy Alliance scheduled to be held next month.

At the launch ceremony held at Lotte Hotel in Sogong-dong, Seoul, a large number of CEOs of participating companies attended, reflecting the expectation of carbon-neutral cooperation through the Energy Alliance.

Dong-wook Kim, vice president of Hyundai Motor Group, said, “We will watch the activities of the coalition with interest,” he said. “We are in the position of energy consumers, but within this, we will be able to listen to the hydrogen-related energy strategies of each company and think about the direction we can work with.

Hanwha Energy President Jeong In-seop said, “It will be a meeting place for the government and companies to discuss energy policy,” and said, “A new system should be set up for a carbon neutral strategy in the future.”

Hyosung Heavy Industries Vice President Song Won-pyo presented a more specific blueprint.

Vice President Song said, “Our company is building a liquefied hydrogen plant and has a liquefied hydrogen charging station business plan,” he said. “If you want to enter the fuel cell business in the future, you can think of cooperation with other domestic companies.” “In the renewable power field, we can also cooperate with KEPCO or SK,” he emphasized, saying, “It is a step to start now.”

Jeong Yeon-in, president of Doosan Heavy Industries & Construction, said, “I think there may be areas where the participating companies are congruent with each other.”

“In the energy field, detail is more important, and what it actually looks like is important,” said Kim Sang-woo, vice chairman of DL Energy. “We will have to think about how to reach carbon neutrality and how to reach it smartly.”

Meanwhile, Minister of Industry Sung Yun-mo, who attended to encourage the launch of the Energy Alliance, said in a greeting, “With the launch of the Energy Alliance, Korean energy companies are responding to the challenging task of carbon neutrality through solidarity and cooperation with each other, while fostering new energy industries. We look forward to creating growth engines.”