PRNewswire
Seoul [South Korea], October 30: Hyundai Motor Company today held a groundbreaking ceremony for its new hydrogen fuel cell production plant in Ulsan, South Korea, marking a major step in its efforts to position the country as a global leader in the energy transition.
The groundbreaking ceremony was attended by Jaehoon Chang, Vice Chair of Hyundai Motor Group; Minister Sungwhan Kim of the Ministry of Climate, Energy and Environment; Vice Minister Shinhak Moon of the Ministry of Trade, Industry and Resources; and several National Assembly members. Their presence alongside Ulsan Mayor Doo-gyeom Kim and other local officials highlighted the importance of hydrogen as a national strategic industry and the strength of public-private collaboration.
International hydrogen industry leaders also attended, including Ivana Jemelkova, CEO of the Hydrogen Council a global CEO-led initiative that brings together leading companies with a united vision and ambition for hydrogen to accelerate the clean energy transition. Jemelkova was visiting Korea for the 2025 APEC CEO Summit in Gyeongju.
"This plant embodies Hyundai Motor Group's strategic commitment to advancing the hydrogen society transition," Vice Chair Chang said in his opening remarks. "It will serve as a critical foundation for securing national economic growth momentum and establishing Korea's leadership in the global hydrogen industry."
The new facility will occupy 43,000 square meters on the site of a former internal combustion engine transmission plant a symbolic shift that underscores Hyundai Motor's pivot toward future mobility.
Scheduled for completion in 2027, the plant will integrate chemical processing and assembly operations with annual production capacity of 30,000 fuel cell units. The facility will operate under Hyundai Motor Group's hydrogen brand and business platform HTWO brand, which symbolizes 'Hydrogen for Humanity.'
The plant represents an investment of KRW 930 billion and will produce next-generation hydrogen fuel cells and electrolyzers for various mobility applications including passenger vehicles, commercial trucks and buses, construction equipment and marine vessels.
Advancing Core Technologies
The facility aims to position Hyundai Motor at the forefront of global hydrogen technology through two key products:
- Next-generation hydrogen fuel cell: Hyundai Motor targets enhancing both power output and durability compared to current models while achieving price competitiveness to lead the global market.
- PEM electrolyzers: The plant will produce high-efficiency polymer electrolyte membrane (PEM) electrolyzers as first production in Korea.
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