South Korea to Build the World's Largest Hydrogen Fuel Cell Power Plant in Gyeongju

The South Korean government has unveiled plans to construct the nation’s largest hydrogen fuel cell power plant, a groundbreaking initiative aimed at addressing both energy and economic challenges. The facility, named the Gangdong Hydrogen Fuel Cell Power Plant, will be located in Gyeongju, Gyeongsangbuk-do, and developed through a mix of public and private investments. The Ministry of Strategy and Finance is spearheading the project, which has an estimated investment of 771.6 billion won. It marks the fourth initiative under the government’s Regional Activation Investment Fund, a program designed to stimulate regional economies through large-scale development projects.

With a planned capacity of 107.9 MW, the Gangdong plant is set to supply enough electricity to meet the annual needs of 270,000 households of four people each. This significant energy output is expected to address critical electricity shortages in the region and enhance the reliability of supply to neighboring industrial complexes, including Pohang’s Yeongil Bay and Blue Valley Industrial Complexes. These areas currently face power deficits, which have hindered industrial growth and investment. Construction of the facility is scheduled to commence in March next year, with the plant anticipated to become fully operational by March 2028.

The project is expected to deliver substantial economic benefits, including the creation of approximately 1,200 jobs and the generation of an estimated 73.3 billion won in corporate tax revenue. It also aligns with South Korea’s broader goals of fostering green energy and supporting energy transformation policies. The Regional Revitalization Investment Fund, a key source of financing for the project, is a collaborative effort involving the government, local administrations, and private financial institutions. The fund has already supported successful projects like the Chungbuk Danyang Station Complex Tourism Complex and the Jeonnam Yeosu Myodo LNG Terminal.

Governor Lee Cheol-woo emphasized the strategic importance of the Gangdong project, describing it as a milestone in connecting energy policy with advanced industrial investment. He stated, “This project demonstrates how a well-designed system like the Regional Activation Investment Fund can transform a region. We aim to empower local communities to carry out their investment projects independently and effectively.”

To further enhance regional development initiatives, the Ministry of Strategy and Finance is considering expanding the Regional Revitalization Investment Fund by adding 300 billion won next year. This move underscores the government’s commitment to promoting sustainable growth and decentralization through targeted investments in infrastructure and technology.

By leveraging cutting-edge hydrogen fuel cell technology, the Gangdong Hydrogen Fuel Cell Power Plant aims to position Gyeongju as a leader in clean energy innovation. The project not only addresses pressing energy needs but also serves as a catalyst for regional economic revitalization and long-term industrial development.