Press Release

Doosan Heavy Industries & Construction announced on May 13th that it had signed a memorandum of understanding with Korea Hydro & Nuclear Power (KHNP) on “Strengthening Cooperation for Clean Hydrogen Production and Convergence of Energy Technology.” The MOU signing ceremony, which was held both online and offline at the Bundang Doosan Tower on May 12th, was attended by KHNP President & CEO Jae-hoon Chung, KHNP Business Growth Division Head Sang-don Kim and Doosan Heavy’s President & COO Yeonin Jung, among others from the two companies.

According to the terms of the MOU, the two companies agreed to continuously collaborate on several areas covering the entire hydrogen value chain, such as implementation of hydrogen production & storage facilities and development of operational technologies, joint research & development for local/global hydrogen production based on small modular reactors(SMRs) and the joint development of hydrogen production technology and related projects using clean energy sources from overseas.

Given that this is a partnership between Korea’s two leading energy companies, there are high hopes that this will lead to enhanced competitiveness of the clean hydrogen-related technologies and the creation of synergy for the energy business.

“We had already expanded our existing partnership with KHNP in the nuclear sector to the hydroelectric power sector. Now with the signing of this MOU, we expect this will help us secure the technology for hydrogen production based on clean energy sources like SMRs and hydroelectric power, and facilitate the development of new cooperation projects, such as those related to exporting,” said Yeonin Jung, Doosan Heavy’s President & COO.

Doosan Heavy has been preparing to enter the hydrogen business since 2018 and is now actively pursuing a wide range of projects that include hydrogen production, storage, transportation and utilization. Doosan Fuel Cell, another Doosan subsidiary that holds unrivalled technical expertise in the field of hydrogen fuel cells, also has plans to embark on a partnership with KHNP in the field of hydrogen utilization.

▲Sang-don Kim, KHNP’s Business Growth Division Head (fourth from the left) and Yeonin Jung, Doosan Heavy’s President & COO (fifth from the left), pose for a group photo after signing the MOU on “Strengthening Cooperation for Clean Hydrogen Production and Convergence of Energy Technology” at the ceremony held on May 12th at Bundang Doosan Tower.

▲KHNP President Jae-hoon Chung gives opening speech while attending ceremony online.