ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan's Deokyang Chemicals is building a new hydrogen production plant in Haknam-ri, Onsan-eup, Ulju-gun, Ulsan-si.

The company plans to inject a total of KRW 100 billion by October 2018 into building facilities capable of producing 50,000 normal cubic meters of hydrogen and 25 tons of steam per hour.

The hydrogen and steam produced at this plant will be supplied to the nearby S-Oil petrochemical plant.

S-Oil has invested KRW 5 trillion in building a petrochemical plant the is set to open in the first half of 2018.

When completed, Deokyang's new hydrogen plant is expected to create some 40 jobs.

Deokyang Chemicals is a subsidiary of industrial gas producer Deokyang Co., Ltd., based in Yeocheon-dong, Nam-gu, Ulsan-si.

Founded in 1982, Deokyang Co., Ltd. currently employs 362 employees. The company produces industrial gases such as hydrogen, carbon dioxide and acetylene, and took in KRW 285.1 billion in revenue last year.

The construction commencement ceremony for the plan was held on September 19, and was attended by som 100 persons, including Ulsan City Mayor Kim Gi-hyeon and Ylju County Mayor Shin Jang-yeol.



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