Korea Gas Corp. (KOGAS) and Hyundai Motor Group have joined hands to build integrated hydrogen charging stations that can also serve as a hydrogen production facility.

They signed a business agreement at a hotel in Seoul to cooperate in enhancing competitiveness in the hydrogen business and expanding sustainable hydrogen infrastructure.

Under the agreement, the two companies will first seek to establish a joint venture to build and operate integrated charging stations, which can carry out diverse functions such as hydrogen production, charging, selling, and fuel cell generation.

The two companies are planning to produce hydrogen directly from natural gas supplied by KOGAS to lower sale prices. They can generate additional profits by selling hydrogen left after charging or using it for fuel cell-based power generation.

The two companies also agreed to expand the supply of commercial hydrogen electric vehicles such as hydrogen buses, invest in the value chain of the hydrogen business, and tap into overseas markets based on a joint business platform.