President Chae Hee-bong of Korea Gas Corp.Korea Gas Corp. (KOGAS)

President Chae Hee-bong of Korea Gas Corp. (KOGAS) said, “KOGAS will make the Year 2021 a starting point to make a leap forward to become a centennial company in the future.” He made the remarks at his New Year’s message.

“Last Year, KOGAS bore many fruits despite the unprecedented COVID-19 pandemic and several outside hardships,” he said.

KOGAS’ 2020 achievements included the expansion of the natural gas network, the settlement of an individual price system with each power operator, and the implementation of new businesses such as LNG bunkering.

President Chae said KOGAS should build the groundwork to grow into a future core company by nimbly responding to rapidly changing management conditions, such as the reorganizing of the global market.

A focus should be on eco-friendly energy, changes of low crude oil prices and financial market liquidity. and each country declaring a goal of reaching carbon neutrality.

To this end, he presented five core tasks: investing dramatically in hydrogen businesses; achieving a goal of becoming a carbon net zero company by 2045; pursuing a digital-oriented work paradigm shift; structural innovation; and realizing social values.

President Chae said, “Starting with the establishment of a hydrogen business vision and strategies, and the inauguration of the hydrogen business division, KOGAS will expand B2C-oriented LNG new businesses such as economical hydrogen production, supply and the building of hydrogen/LNG convergence charging stations.”

“The corporation will establish groundwork for future growth through the establishment of a department responsible for overseas green hydrogen production and import, investing the hydrogen fuel cell business, core hydrogen technology development and aggressive M&As.”

KOGAS will devote itself to creating new revenues by accelerating LNG bunkering/cold energy business as well as overseas gas-to-power projects.

The corporation will pursue eco-friendly, sustainable management to be a company of achieving carbon neutrality by 2045 in keeping with the latest global climate change policies.

KOGAS will implement omni-directional KOGAS-type digital transformation projects to comply with the spread of “smart” work and the acceleration of the digital economy, caused by COVID-19 pandemic.

The corporation plans to create social values by promoting shared growth with local communities and SMEs as a “happy partner” to realize clean energy welfare and implementing eco-friendly energy supply projects, he said.

Lastly, President Chae said, KOGAS plans to announce “Korea Vision 2030,” which encompasses these plans. He called for all executives and staff members to share a vision and make efforts in unison to offer better values to people and shareholders.

A view of KOGAS headquarters in Daegu Metropolitan City.

KOGAS Inaugurates Hydrogen Business Division to Spur Hydrogen Economy

KOGAS has decided to launch businesses related to the hydrogen economy in earnest by inaugurating the hydrogen business division.

The move is designed to make KOGAS lead all processes as the government’s commissioned hydrogen distribution entity ranging from hydrogen import to supply, distribution and technology development.

KOGAS announced a plan to reorganize its operation to that effect on Jan. 11. The establishment of the hydrogen business division is to accelerate investments into hydrogen production and supply.