Korea Zinc eyes green hydrogen as future growth engine

Korea Zinc Co. Chairman Choi Yun-beom speaks during a town hall meeting with employees at the company headquarters on July 21. [Courtesy of Korea Zinc]

Korea Zinc Co. plans to expand its business areas to include renewable energy, resource circulation and battery materials, as part of an ambitious move to diversify the company’s business portfolio beyond its previous focus on zinc and lead refining, according to Chairman Choi Yun-beom.

The chairman unveiled such a plan during a town hall meeting with employees at the company headquarters on Friday. “We’re laying the groundwork for hydrogen infrastructure and exploring possibilities in constructing large-scale renewable energy generation facilities and green hydrogen and green ammonia production plants in Australia,” said Choi. Earlier this year, the chairman presented “Troika Drive” as a future growth strategy in his New Year’s address, which refers to three business areas based on resource circulation, including renewable energy and green hydrogen, secondary battery materials, and used battery recycling. This marks Korea Zinc’s first business expansion attempt beyond its traditional strength in non-ferrous metal refining since its founding in 1974.

“The three new businesses are where our accumulated technological capabilities lie. Considering the accumulated expertise and human assets, we have a good chance in the global market,” he added.

Korea Zinc envisions producing 100 percent eco-friendly zinc, also known as green zinc, domestically by importing green hydrogen produced at the renewable energy complex established in Queensland, Australia, in 2021. The complex is currently under construction, with a maximum capacity of 3,000 megawatts for large-scale green hydrogen and green ammonia production. At the Australian production site, a pilot project utilizing green hydrogen produced from solar energy is being implemented for transportation purposes, such as powering trucks.

This is the first time since its founding in 1974 that Korea Zinc has held a town hall meeting where employees gather to discuss matters without formality. The change was brought about by Choi, the third-generation management of Korea Zinc, who assumed his position at the end of last year. The 48-year-old chairman attended the meeting in jeans and a t-shirt, engaging in conversations with employees on light topics beyond business management, including daily routines, stress relief methods, and reading habits.