Korea Gas Corporation (KOGAS) and Matrix signed a business agreement for the development of a large liquid H₂ tank and cargo hold. About 10 officials from both companies attended the event, including Hee-bong Chae, President of Gas Corporation and John Hewitt, President of Matrix.

This agreement is a follow-up to President Chae Hee-bong's meeting with Matrix management and experts in the field of liquid H₂ during his visit to the U.S. to attend the H2 Council in June to discuss the status of liquid H₂ storage technology and cooperation with Korea Gas Corporation.

The two companies decided to cooperate closely in various fields, such as enlargement of liquid H₂ onshore storage tanks, development of liquid H₂ transport ship technology and design and construction of domestic liquid H₂ receiving bases.

With this agreement as an opportunity, KOGAS plans to enhance its competitiveness as a leading country in the H₂ industry by developing core technologies in the storage and transportation of liquid H₂ in the H₂ value chain and spur the creation of a domestic H₂ industry ecosystem by introducing liquid H₂.

The wind of change is scheduled to begin in Pyeongtaek. The two companies plan to carry out the conceptual design of the world's first LNG receiving station based H₂ receiving station in the form of a joint study. If successful, Korea's first LNG receiving base will be transformed into Korea's first H₂ receiving base.

Hee-bong Chae, President of Gas Corporation said, “Liquid H₂ storage and transportation is a key technology to achieve carbon net-zero and to preemptively respond to large-scale H₂ demand in the mid- to long-term. We will provide a strong foothold for this.”

John Hewitt, president of Matrix said, “I am delighted to cooperate with Korea Gas Corporation for the realization of a large-scale H₂ economy in Korea.