SK E&S Faces Delays in Hydrogen Infrastructure Project in Incheon due to Land Acquisition Issues
SK E&S Co.'s hydrogen infrastructure project in Incheon, which includes a fuel cell plant and water electrolysis facility, is facing delays due to unresolved land acquisition issues. The 1 trillion won ($726 million) project, intended for the Incheon High Tech Park, has not progressed since a proposal was submitted in 2022, as the site remains unavailable for construction. This initiative is part of a joint venture with Plug Power Inc. aimed at developing a comprehensive hydrogen ecosystem.
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SK E&S Co.'s hydrogen infrastructure project, which includes a hydrogen fuel cell plant and water electrolysis facility, is delayed due to land acquisition issues in Incheon. The project, estimated to cost 1 trillion won ($726 million), aims to establish facilities in Incheon High Tech Park.
The site, owned by Korea Land and Housing Corp, was designated for foreign investments but was repurposed for broader use by the Incheon Free Economic Zone Authority in 2021. SK E&S submitted a proposal in 2022 for a Giga Factory & R&D Center on an 83,307 square meter site but has not secured the land for construction over the past two years. This project is crucial for SK E&S, stemming from its 2021 joint venture with Plug Power Inc., which involves a combined investment of 1 trillion won to develop a comprehensive hydrogen ecosystem.
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