[Alpha Biz=(Chicago) Reporter Paul Lee] SK E&S, along with Plug Power (plug), a leading hydrogen company in the United States, will invest a total of 1 trillion won in the domestic hydrogen industry, including the construction of a hydrogen facility production base called "Giga Factory."

SK E&S announced on the 2nd that it announced a joint venture plan with Plug at the 'Investment Declaration' event held at the American Chamber of Commerce and Industry in Washington, D.C. on the 25th of last month (local time).

The event was attended by an economic delegation consisting of business leaders and representatives of six U.S. companies who decided to invest in Korea, including President Yoon Seok-yeol, Minister of Trade, Industry and Energy Lee Chang-yang and SK Group Chairman Choi Tae-won.

SK E&S and Plug will invest a total of 1 trillion won in the domestic hydrogen industry through SK Plug Hiverse, a joint venture established last year. SK E&S will pay KRW 510 billion and Plug KRW 490 billion, respectively, depending on the share ratio of the joint venture. Analysts say that the potential of the Korean hydrogen market based on the government's active fostering policy and the differentiated competitiveness of the SK E&S have enabled cooperation between the two companies.

This joint venture is evaluated as a representative business cooperation model between Korean and American companies in the field of hydrogen. It is expected that the plug's cutting-edge technology in the hydrogen field and the energy production, distribution and sales capabilities that SK E&S has accumulated for a long time will serve as a stepping stone for Korea to secure differentiated competitiveness in the global hydrogen market.

 

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