Lee Min-hyung joined The Korea Times in 2014 and has worked as a journalist mainly in Korea’s finance, tech and automotive industry. He specializes in content creation, breaking news and in-depth analysis currently on transportation and mobility. You can reach him via mhlee@koreatimes.co.kr.
Hyundai Motor displays hydrogen vision at APEC CEO Summit
Hyundai Motor Group Vice Chair Chang Jae-hoon, right, speaks during a hydrogen energy session at the Asia-Pacific Economic Cooperation CEO Summit in Gyeongju, North Gyeongsang Province, Thursday. Seated with him is Hydrogen Council CEO Ivana Jemelkova. Chang also serves as co-chair of the council. Courtesy of Hyundai Motor Group
By Lee Min-hyung
Carmaker breaks ground for hydrogen fuel cell factory in Ulsan
Hyundai Motor Group displayed its unwavering commitment to leading global hydrogen energy business on the sidelines of the Asia-Pacific Economic Cooperation (APEC) CEO Summit Thursday.
In a dedicated session titled “Hydrogen, Beyond Mobility: New Energy for Society,” the Korean automaker shared its updated hydrogen business strategy and discussed ways to drive the overall growth of the global hydrogen industry.
Hyundai Motor Group Vice Chair Chang Jae-hoon brought up the “strategic importance of hydrogen in achieving carbon neutrality” in conversation with Hydrogen Council CEO Ivana Jemelkova during the session. Chang also serves as co-chair of the council.
“As the global energy landscape shifts toward sustainable sources, hydrogen is emerging as a key pillar of the transformation,” Chang said. “Hydrogen overcomes the intermittency of renewable energy and enhances overall energy efficiency, driving the world closer to carbon neutrality.”
The carmaker called for stronger public-private partnerships to accelerate the era of eco-friendly mobility here and abroad.
Hyundai Motor Group is one of the global frontrunners when it comes to the hydrogen business. The company hopes to build a complete value chain from hydrogen production to storage and transportation, as part of its next major revenue stream.
The carmaker established its hydrogen-dedicated research division in 1998, and has invested in relevant technologies. It became the first in the world to mass-produce heavy-duty hydrogen fuel cell trucks. Hyundai Motor also holds a title as the global leader in hydrogen vehicle sales.
The carmaker operates 30 XCIENT fuel cell trucks in the United States, and has deployed 21 additional XCIENT trucks at Hyundai Motor Group Metaplant America for parts logistics, in its bid to build cleaner and more sustainable logistics network there.
Chang also shared Hyundai Motor’s updated hydrogen production initiatives. By 2029, the group plans to develop a five-megawatt polymer electrolyte membrane electrolysis system on Jeju Island for green hydrogen production.
The carmaker has also provided a total of 34 all-new NEXO hydrogen fuel cell SUVs as patrol vehicles for participants of the 2025 APEC events.
Hyundai Motor Group Vice Chair Chang Jae-hoon delivers a speech during the groundbreaking ceremony for its new hydrogen fuel cell factory in the southeastern city of Ulsan, Thursday. Courtesy of Hyundai Motor Group
New hydrogen fuel cell factory
The carmaker also broke ground for its new hydrogen fuel cell factory in the nation’s southeastern city of Ulsan on the same day.
The three-story plant is built on some 30,000 square meters of land. The hydrogen-dedicated factory is set to open in 2027, and will be capable of producing some 30,000 hydrogen fuel cells annually.
“The hydrogen fuel cell factory will be a strategic base that contains Hyundai Motor Group’s willingness to drive the transition to the hydrogen society,” Chang said.
“We will secure new economic growth engines at the facility, and supply hydrogen fuel cells to a number of global firms in areas, such as shipbuilding and construction equipment.”