Changwon City Council begins administrative investigation into ‘liquefied hydrogen plant’ – Asia Economy

The Gyeongsangnam-do Changwon Special City Council is beginning an administrative investigation into current issues related to the Changwon City liquefied hydrogen plant project promoted during the time of the former mayor.

The city council passed the approval of the related administrative affairs investigation special committee administrative affairs investigation plan at the first plenary session of the 138th extraordinary session on the 23rd.

Of the 41 registered lawmakers, 25 city council members from the People Power Party all voted in favor of this agenda, and 16 city council members from the Democratic Party of Korea voted against it.

The special committee consisted of only six members of the People Power Party, with all Democratic Party members declaring their absence.

The Changwon liquefied hydrogen plant project was promoted to create Korea’s first liquefied hydrogen production base in 2021, and the plant at Doosan Energy’s Changwon plant was completed on January 31 this year.

The plant operation was handled by Hi Changwon, a special purpose corporation established in April 2020 through joint investment by the Changwon Industry Promotion Agency, Doosan Ability, and Korea Industrial Complex Corporation.

Initially, the plant was planned to produce 5 tons of liquefied hydrogen per day, or up to 1,825 tons per year, and supply it to nearby research institutes, companies, and hydrogen charging stations, but there were concerns about poor performance due to poor demand discovery, low plant operation rate, and delays in commercial production.

The special committee plans to examine the entire project, including the process and direction of establishing the liquefied hydrogen plant business plan, the adequacy of the implementation plan, the fairness of the public offering, and the legality and feasibility of the project cost calculation and execution process, targeting the Changwon Industry Promotion Agency, an agency under the city.

The special committee’s activities will begin from this day and continue until December 20th.

<ⓒ투자가를 위한 경제콘텐츠 플랫폼, 아시아경제(www.asiae.co.kr) 무단전재 배포금지>