Vice Chairman Jang Jae-hoon of Hyundai Motor Group said at the "2025 Asia-Pacific Economic Cooperation (APEC) CEO Summit" in Gyeongju that the group will accelerate efforts to expand the global hydrogen ecosystem. With a sigh of relief after the tariff negotiations with the United States were concluded on the 29th, Hyundai Motor Group is expected, under Jang's leadership, to focus even more on hydrogen, its key new business.
At the APEC CEO Summit session "Hydrogen, beyond mobility to next-generation energy for all," held that day at Gyeongju Arts Center, Jang said, "As the global energy landscape is being reorganized around sustainable energy sources, hydrogen is becoming the core of that change," adding, "Hyundai Motor Group will take the lead in building a hydrogen-based future society in cooperation with global partners."
The session proceeded with a keynote speech by First Vice Minister Geum Han-seung of the Ministry of Climate, Energy and Environment, followed by a conversation between Jang and Ivana Jemelkova, chief executive officer (CEO) of the Hydrogen Council. The Hydrogen Council is a global CEO forum on the hydrogen economy established in 2017.
Hyundai Motor Group is cited as one of the corporations most aggressively investing in the hydrogen economy worldwide. Hyundai Motor, which launched a dedicated hydrogen research and development (R&D) organization in 1998, has produced several achievements, including developing the world's first heavy-duty hydrogen fuel cell truck. Sales of Hyundai Motor's Nexo hydrogen fuel cell passenger car reached a cumulative 4,168 units through September this year, up 73.1% from a year earlier. At this APEC CEO Summit in Gyeongju, Hyundai Motor was the only one among the four major groups to hold a standalone session on hydrogen.
Jang is leading Hyundai Motor Group's hydrogen investments. Since being appointed co-chair of the Hydrogen Council last year, Jang has taken the lead in broadening hydrogen's base and securing its economic viability in the global market. After attending a groundbreaking ceremony for a new Hydrogen Fuel Cell plant in Ulsan earlier that day, he traveled to Gyeongju to join the session.
In the finished-vehicle industry, there is a view that Hyundai Motor Group's investment in the hydrogen economy will expand rapidly. Although performance slumped after the launch of the Donald Trump administration in the United States this year due to high tariff rates, observers say the conclusion of negotiations removed the risk, giving the group fresh momentum to refocus on hydrogen.
At its shareholders meeting in March, Hyundai Motor decided to additionally specify the hydrogen business in its articles of incorporation, and at the "CEO Investor Day" held in New York last month, it announced plans to expand its next-generation hydrogen fuel cell vehicle lineup following the Nexo.
After the session, Jang told reporters he expects that the broader the scope of hydrogen use, the more its economic viability can be secured. He stressed that for Korea to preempt the hydrogen market, corporations, the government, the political community, and local governments must unite, and that cooperation with Japan at the national level is also necessary.
Jang said, "Hydrogen has various advantages not only for mobility but also for renewable energy, so many countries and corporations are trying to preempt the market," adding, "Hyundai Motor Group is looking at the entire chain—production, distribution, storage, and utilization—along with transportation." He also added, "Beyond automobiles, hydrogen must be used extensively in various fields such as ships and agricultural machinery to achieve scale and secure economic viability."
He said cooperation with Japan needs to move even faster. "With Toyota, cooperation is underway on shared use and standards for hydrogen," he said, adding, "We are also working to ensure that cooperation at the government level proceeds well." He said, "China is moving quickly to lead the hydrogen market as well. Cooperation between countries, not just among corporations, is important."