SK Corp. will enter the hydrogen business to strengthen the ecosystem of the domestic hydrogen market and accelerate management of ESG (environment, society, and governance), the holding company of SK Group said on Dec. 1.
The company has recently established a hydrogen business promotion team with about 20 experts from energy-related companies such as SK Innovation and SK E&S.
Beginning in 2023, SK E&S will build 30,000 tons of liquefied hydrogen production facilities annually and supply liquefied hydrogen to metropolitan areas.
SK Corp. is also going to operate a mass production system of blue hydrogen through SK E&S. By utilizing SK E&S, which directly imports more than 3 million tons of liquefied natural gas (LNG) per year, it will produce an additional 250,000 tons of blue hydrogen starting from 2025.
"The group's decision to pursue the hydrogen business means that SK's investment portfolio will be a starting point for the full-fledged transition to eco-friendly. We will unite our accumulated energy business capabilities to create an eco-friendly hydrogen ecosystem and establish ourselves as a leading company in the global market," an official from SK Corp. said.