Lotte Chemical teams up with Posco, Samsung Engineering for hydrogen biz

[Photo provided by Posco]

Lotte Chemical Corp., Posco and Samsung Engineering Co. have joined their forces to develop hydrogen business ecosystem to make a contribution toward carbon neutrality.

Lotte Chemical announced Thursday that it signed a memorandum of understanding (MOU) with Posco and Samsung Engineering at Signiel Hotel in Jamsil, southern Seoul to establish a partnership to develop hydrogen business in Korea and overseas.

The three companies agreed to make joint efforts to help the country achieve carbon net zero by introducing blue and green hydrogen from overseas and cooperate for hydrogen business both at home and abroad. They aim to lead the country’s hydrogen economy by utilizing and sharing their expertise and experiences.

The partnership came after they formed an alliance for green ammonia in July and held a conference to report current achievements towards hydrogen economy in October. They also conducted a feasibility study in Sarawak, Malaysia, jointly with the local government to develop blue and green hydrogen.

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