Global Business
Hyundai E&C, Japanese Trader Pursue Hydrogen, Nuclear, Data Centers
Dong-A Ilbo |
Updated 2026.05.14
After signing the business agreement at Itochu Corporation’s headquarters in Tokyo, Japan, participants pose for a commemorative photo. (From right) Hyundai Engineering & Construction CEO Han-Woo Lee, Head of Plant Business Division Sang-Bae Lee, Itochu Corporation Power & Infrastructure Division Chief Masashi Kanai, and Machinery Company President Hiroyuki Tsubai.
Hyundai Engineering & Construction has joined hands with Japan’s leading general trading companies to expand cooperation in next-generation energy infrastructure, including hydrogen, nuclear power, and data centers. This move is seen as strengthening strategic collaboration between Korean and Japanese companies in response to rising power demand driven by global energy transition and the spread of AI.Hyundai Engineering & Construction announced on the 13th that it had signed a memorandum of understanding (MOU) in Tokyo, Japan, with Itochu Corporation for new business cooperation related to the transition to hydrogen energy.
Attending the signing ceremony were Hyundai Engineering & Construction CEO Han-Woo Lee and Head of Plant Business Division Sang-Bae Lee, along with Itochu Machinery Company President Hiroyuki Tsubai, Plant, Ship & Aerospace Division Chief Eiichiro Higashiyama, and Urban Environment & Power Infrastructure Division Chief Masashi Kanai.
The core of this agreement is the promotion of new businesses for hydrogen production and supply. Itochu Corporation will act as a global investment and development project developer and handle investment activities, while Hyundai Engineering & Construction will be responsible for plant EPC (engineering, procurement, and construction). The two companies plan to establish a clean hydrogen production and supply system to contribute to achieving carbon neutrality and revitalizing the hydrogen economy.
Industry observers view this cooperation as part of building a global hydrogen value chain that connects production, transportation, and supply, going beyond simple project orders. In particular, the combination of Hyundai Engineering & Construction’s plant construction capabilities and Itochu’s global raw material supply network is expected to create significant synergies.
Founded in 1858, Itochu Corporation is one of Japan’s leading general trading companies, operating in a wide range of sectors including textiles, machinery, metals, minerals, energy, chemicals, finance, and real estate. The two companies have jointly carried out global projects such as the Sarulla geothermal power plant in Indonesia and Line 3 of the Panama Metro, and last year they also signed an MOU for business cooperation in pumped-storage power, data centers, ammonia, and LNG.
During this visit to Japan, Hyundai Engineering & Construction also held a series of meetings with Mitsui & Co. and JGC, among others. The parties discussed cooperation measures for large-scale nuclear power plants, offshore wind power, data centers, LNG, oil and gas, and post-war reconstruction projects in the Middle East.
A Hyundai Engineering & Construction official said, “To secure competitiveness in global core businesses such as AI, energy security, carbon neutrality, and post-war reconstruction, partnerships that combine the strengths of Korea and Japan are crucial,” adding, “We will continue to expand strategic cooperation with global companies and strengthen our leading position across the entire energy value chain.”
Hwang So-young
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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