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Hyundai Engineering & Construction announced on the 14th that it has signed a memorandum of understanding (MOU) with Itochu Corporation, a comprehensive trading company in Japan, for collaboration on new businesses related to hydrogen energy transition. Under this agreement, the two companies will jointly pursue new businesses in hydrogen production and supply. Itochu Corporation, which invests in and develops projects around the world, will be responsible for overall project management and investment, while Hyundai Engineering & Construction will handle the plant EPC (engineering, procurement, and construction). Itochu Corporation possesses global expertise in raw material supply, including being the first in the world to order an ammonia bunkering vessel (fuel supply ship). Hyundai Engineering & Construction, with its capabilities in constructing hydrogen production plants, is expected to generate synergy through this partnership.On the 13th, at Itochu Corporation headquarters in Tokyo, Japan, Lee Hanwoo, CEO of Hyundai Engineering & Construction (right in the photo), Lee Sangbae, Head of the Plant Business Division, Kanai Masashi, Head of Urban Environment and Power Infrastructure at Itochu Corporation, and Tsubai Hiroyuki, President of the Machinery Company, along with the key executives of both companies, took a commemorative photo after signing the agreement. Provided by Hyundai Engineering & ConstructionView original imageEstablished in 1858, Itochu Corporation operates diverse businesses including textiles, machinery, minerals, energy and chemicals, and real estate. The company has previously collaborated with Hyundai Engineering & Construction on projects such as the Sarulla geothermal power plant in Indonesia and Panama Metro Line 3. Last year, the two companies signed an agreement to explore business opportunities in pumped-storage power generation, data centers, ammonia, and liquefied natural gas (LNG).Hot Picks TodayNo Bacteria Detected in Arisu After 24 Hours of Repeated Drinking from a Tumbler"I Feel Uncomfortable Being Filmed"... Cheerleaders Distressed by Commercial Fan Cam Practices"What Have I Been Doing All This Time?" Even Celebrities Can't Escape 'FOMO' Amid KOSPI Rally"Not Just Fuel Prices: Whale Collision Risks Surge as Hormuz Blockade Reroutes Ships"Police Officer Cycling on Day Off Rescues Woman Attempting to Jump from Hangju BridgeHyundai Engineering & Construction also announced that it met with other major Japanese trading companies, such as Mitsui & Co. and engineering firm JGC, to discuss cooperation in areas including large-scale nuclear power plants, offshore wind power, data centers, LNG, and post-war reconstruction in the Middle East. The company stated, "A partnership that combines the strengths of Korea and Japan is essential to secure global leadership in high value-added businesses," and added, "We will solidify our leading position across the entire energy value chain by collaborating with leading global companies, accelerating the construction of sustainable future infrastructure." Under this agreement, the two companies will jointly pursue new businesses in hydrogen production and supply. Itochu Corporation, which invests in and develops projects around the world, will be responsible for overall project management and investment, while Hyundai Engineering & Construction will handle the plant EPC (engineering, procurement, and construction). Itochu Corporation possesses global expertise in raw material supply, including being the first in the world to order an ammonia bunkering vessel (fuel supply ship). Hyundai Engineering & Construction, with its capabilities in constructing hydrogen production plants, is expected to generate synergy through this partnership. On the 13th, at Itochu Corporation headquarters in Tokyo, Japan, Lee Hanwoo, CEO of Hyundai Engineering & Construction (right in the photo), Lee Sangbae, Head of the Plant Business Division, Kanai Masashi, Head of Urban Environment and Power Infrastructure at Itochu Corporation, and Tsubai Hiroyuki, President of the Machinery Company, along with the key executives of both companies, took a commemorative photo after signing the agreement. Provided by Hyundai Engineering & Construction Established in 1858, Itochu Corporation operates diverse businesses including textiles, machinery, minerals, energy and chemicals, and real estate. The company has previously collaborated with Hyundai Engineering & Construction on projects such as the Sarulla geothermal power plant in Indonesia and Panama Metro Line 3. Last year, the two companies signed an agreement to explore business opportunities in pumped-storage power generation, data centers, ammonia, and liquefied natural gas (LNG). Hyundai Engineering & Construction also announced that it met with other major Japanese trading companies, such as Mitsui & Co. and engineering firm JGC, to discuss cooperation in areas including large-scale nuclear power plants, offshore wind power, data centers, LNG, and post-war reconstruction in the Middle East. The company stated, "A partnership that combines the strengths of Korea and Japan is essential to secure global leadership in high value-added businesses," and added, "We will solidify our leading position across the entire energy value chain by collaborating with leading global companies, accelerating the construction of sustainable future infrastructure." © The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Hyundai Engineering & Construction said on the 13th that it signed a memorandum of understanding (MOU) with ITOCHU Corporation of Japan to cooperate on new business related to the hydrogen energy transition. The signing ceremony was held at ITOCHU Corporation's headquarters in Tokyo, with key executives from both companies attending, including Hyundai Engineering & Construction CEO Lee Han-woo; Lee Sang-bae, head of the Plant Business Headquarters; and Hiroyuki Tsubai, president of ITOCHU's Machinery Company. The agreement is to jointly pursue new businesses related to hydrogen production and supply. ITOCHU will oversee and invest in the business, while Hyundai Engineering & Construction will take charge of plant EPC (engineering, procurement and construction). The two companies plan to expand cooperation in hydrogen production and supply by combining Hyundai Engineering & Construction's plant construction capabilities with ITOCHU's global network and raw material supply know-how. In particular, ITOCHU has experience placing the world's first order for an ammonia bunkering vessel, and Hyundai Engineering & Construction plans to strengthen its business competitiveness based on its hydrogen production plant construction capabilities. Once the collaboration gets underway in earnest, it is expected to contribute to achieving carbon neutrality and revitalizing the hydrogen economy by building a foundation for clean hydrogen production. Founded in 1858, ITOCHU operates a wide range of businesses, including textiles, machinery, metals and minerals, energy and chemicals, real estate, and finance. It has carried out projects with Hyundai Engineering & Construction such as the Sarulla geothermal power plant in Indonesia and Panama Metro Line 3, and last year the two signed an MOU to cooperate in pumped-storage hydropower, data centers, and ammonia and liquefied natural gas (LNG). During this visit to Japan, Hyundai Engineering & Construction also held a series of meetings with representative Japanese corporations, including Mitsui & Co. and JGC, to discuss cooperation on nuclear power, offshore wind, data centers, LNG, oil and gas, and postwar reconstruction projects in the Middle East. A Hyundai Engineering & Construction official said, "Cooperation between Korea and Japan is important to secure competitiveness in global high value-added businesses such as artificial intelligence (AI), energy security, carbon neutrality, and postwar reconstruction," adding, "We will expand strategic partnerships with global corporations to strengthen competitiveness across the energy value chain."