Korea South-East Power (KOEN) and the Saemangeum Development Agency have signed a memorandum of understanding (MoU) for a large scale green hydrogen complex at Saemangeum in South Korea.
The agreement covers the proposed development of an integrated facility combining solar power generation, green hydrogen production, and hydrogen-fired electricity output at the selected site in Buan, North Jeolla Province.
The proposed site covers approximately 10.1km², with plans for 1 GW of onshore solar capacity, a 320 MW water electrolysis installation, and 100 MW of hydrogen-only power generation.
This development has been described as South Korea’s first integrated demonstration of solar power, hydrogen production via electrolysis and electricity generation from hydrogen at commercial scale.
A central feature of the project is a power-to-gas-to-power (P2G2P) system. Solar-generated electricity would drive electrolysis equipment, which in turn would produce green hydrogen for storage. The hydrogen could then be converted back to electricity in a dedicated turbine when additional power is required or when grid demand increases.
According to KOEN, bringing all three stages together could help absorb surplus renewable energy, allow for dispatchable clean electricity production, and avoid curtailment when generation exceeds grid capacity.
The development remains in its early stages, with the MoU marking an intent to proceed rather than a final investment decision.
Saemangeum is currently home to hydrogen-related developments including an operating commercial water-electrolysis plant and planned investments by Hyundai Motor Group.
The newly proposed KOEN project, with 320 MW of electrolysis, would be significantly larger than the current facilities in the region.
KOEN aims to connect the project to South Korea’s clean-hydrogen electricity market, where clean hydrogen power procurement for 2026 has been set at 500 GW/h.