On August 6, SK Innovation’s SK Energy opened a large hydrogen charging station for hydrogen buses and trucks at Netruck House in Incheon, South Korea, following the opening of the first hydrogen refueling station in Ulsan in April, which is the second hydrogen refueling station in South Korea.

The Incheon Hydrogen Station is said to be a large-scale hydrogen refueling station with a refueling rate of 120 kilograms/hour, capable of charging 60 heavy-duty trucks per day and 24 hydrogen-powered passenger cars per hour. The Ulsan Hydrogen Station can charge 40 heavy trucks per day and 16 hydrogen passenger cars per hour.

By launching the hydrogen refueling station, SK Energy aims to further expand its hydrogen refueling business and transform itself into a green energy platform provider. SK E&S, which is responsible for the SK Group’s hydrogen production, is currently constructing the world’s largest liquefied hydrogen plant at SK’s Incheon Petrochemical Site in Incheon City.

The facility purifies gaseous hydrogen to high purity and cools it to -253°C to make it liquid. It produces 90 tons of liquefied hydrogen per day and 30,000 tons of liquefied hydrogen per year.

The SK Group has also increased its investment in alternative energy sources such as hydrogen, announcing in its sustainability report that it will invest a total of KRW 12.4 trillion in energy-related projects by 2025.

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It is learned that SK Group’s EV battery charger manufacturing plant in Texas, USA was officially completed on Monday, which is the first EV charger plant built by a Korean company in the US.

At the completion ceremony, Hyundai President Shin Jung-ho said that Hyundai is confident that it can compete with Tesla in terms of charging speed and compatibility with a wider range of electric vehicles. “The Tesla Supercharger is designed specifically for Tesla electric cars, so it may be less compatible with other electric cars.”

The plant, located in Plano, 20 miles northeast of Dallas, will produce 10,000 400 kWh electric vehicle chargers per year starting next month. Currently, Tesla and Hyundai’s all-electric IONIQ 5 uses a 230 kWh charger, which means it can charge 230 kWh per hour.

In simple terms, a 400kWh charger can charge the IONIQ 5 to 80 percent in 15 minutes and allow it to travel 400 kilometers on a single charge, the distance from Seoul to Busan, South Korea’s second-largest city.

This compares to 360 kWh for GM’s Electric Horse and Porsche Taycan electric cars. Therefore, the 400 kWh charger from SK Signet allows for faster charging and can also support new electric vehicles with larger battery capacities.

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SK Group is reported to have established a Southeast Asia investment company in Singapore in 2018. After the establishment of SK Southeast Asia Investment, SK Group has expanded significantly in Southeast Asia and turned to “profitability through asset sales.

An investment banking source noted that SK Group is not in a financial crisis, it is just trying to get money to prepare for the worsening economic situation.

The SK Group, which includes SK Hynix, SK Telecom, SK On and SK E&P, has businesses in the energy, telecommunications and semiconductors.

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