Hyundai Motor Group (the Group) has forged an agreement with key Korean, Chinese Mainland, Hong Kong and French companies to establish a comprehensive hydrogen ecosystem in Hong Kong.

During the International Hydrogen Development Symposium 2026 in Hong Kong on May 18-20, 2026, the governments of Korea and Hong Kong signed an intergovernmental Memorandum of Understanding (MoU) to strengthen hydrogen policy cooperation and business partnerships. Building on this governmental collaboration, the Group officially announced its plan to advance the Hong Kong hydrogen ecosystem project and signed an MoU with leading Hong Kong-based and global companies.

The Korea-Hong Kong corporate MoU establishes a collaborative framework to pioneer Hong Kong’s hydrogen market while positioning the city as a strategic base for the Group’s hydrogen business expansion across the Asia-Pacific region.

The agreement was signed by Seung Kyu Shin, Executive Vice President and Head of Energy & Hydrogen Policy Sub-Division at Hyundai Motor Group; Cheng Don H.K., Chief Operating Officer – Hong Kong Business at The Hong Kong and China Gas Company Limited; Yu Taek Seo, Vice President at Hyundai Engineering & Construction Co., Ltd.; Norman Cheng, Chief Operating Officer of Veolia Hong Kong Holding Ltd.; In Gu Park, Chief Executive Officer of JEA ENG., Co., Ltd.; Zhang Jian, Chairman of China Inspection Company., Ltd.; Wu Pinfang, Chairman of Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd.; Alfred Wong, Partner at Templewater Limited; Ir William Luk, Deputy Chief Executive Officer of Chun Wo Construction and Engineering Company Limited; and Calvin Wong, Chief Executive Officer of Chun Wo Bus Services Limited.

The signing ceremony was witnessed by representatives from Hong Kong, including Diane Wong, Acting Secretary for Environment and Ecology of the HKSAR; Poon Kwok Ying, Director of Electrical and Mechanical Services of the HKSAR; and Alpha Lau, Director-General of Investment Promotion of Invest Hong Kong, as well as Jeong Eui Kyung, Deputy Minister of Land, Infrastructure and Transport, representing Korea.

This initiative strengthens business momentum for the Group’s global hydrogen vision by outlining a strategic background, an actionable execution plan and Korea–Hong Kong corporate partnerships for Hong Kong’s hydrogen ecosystem project.

“This MoU was signed as Hyundai Motor Group’s commitment to advancing Hong Kong’s proactive hydrogen policies and driving the acceleration of its hydrogen ecosystem utilizing the Group's hydrogen business capability and experience. Starting with Hong Kong, we look forward to expanding our collaboration and business opportunities across the broader Asia-Pacific hydrogen market.” – Seung Kyu Shin, Executive Vice President and Head of Energy & Hydrogen Policy Sub-Division at Hyundai Motor Group.

“Today multi-party signing is both a landmark moment for Hong Kong’s green economy and a clear signal that the city’s hydrogen ecosystem is gaining real traction. Over the past three years, InvestHK has helped leading hydrogen enterprises establish themselves in Hong Kong, several of which have since listed on the Hong Kong Stock Exchange, raising over HK$2.5 billion in total. For businesses with global green ambitions, Hong Kong is where business growth takes shape.” – Alpha Lau, Director-General of Investment Promotion of Invest Hong Kong.