CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Chungbuk Green Hydrogen Industry Regulation Free Special Zone project will be pushed for in earnest based on bio-gas and ammonia.

Chungbuk-do signed an MOU on Green Hydrogen Industry Regulation Free Special Zone with 13 organizations and companies including Chungju-si, Institute for Advanced Engineering, Chungbuk Technopark, and Hanwha at Grand Plaza Hotel in Cheongju on November 10.

A special regulation-free zone is a zone designated in a non-metropolitan area where various regulations are suspended or exempted in accordance with the Regional Special Zone Act to promote projects based on new technologies.

The Green Hydrogen Industry Regulatory Free Zone was designated last July, covering an area of 345,895 square meters in Bongbang-dong and Daesowon-myeon, Chungju-si.

The backbone of the special zone project is demonstration of world's first commercial ammonia-based hydrogen production and Korea's first biogas-based high-quality and low-price hydrogen production.

The MOU was intended to spread the early achievements of the special zone.

The signatory organizations and companies include Wonik Materials (Cheongju), Hanwha (Boeun), Airrane (Cheongju), DL (Jecheon), Aspe (Chungju), Chungbuk Technopark (Cheongju),FITI Research Institute (Cheongju), the Institute for Advanced Engineering (Yongin), Hyundai Rotem (Uiwang), Wonik Holdings (Pyeongtaek), and Seojin Energy (Incheon).

Chungbuk-do expects the provincial special zone project is to generate economic ripple effects such as sales of KRW 260.6 billion, 299 employment, and attraction of 24 firms by 2033.

The province also expects to reduce carbon by 2512,000 tons.

This is equivalent to the effect of planting 17,989,000 pine trees, and reducing the exhaust gas emitted by 1,034,000 passenger cars in a year.

jcpark@yna.co.kr

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Source: Yonhap News (November 10, 2021)