Linde to Invest $30 Million to Build Hydrogen Gas Plant in Korea
Germany's Linde Group announced it will build a facility in South Korea to produce high-purity hydrogen gas used for light-emitting diodes (LEDs) at an investment of $30 million, government officials said.
Linde, the world's second largest firm in the industrial gas sector, signed a memorandum of understanding on the project with the Gyeonggi provincial government and the Ministry of Knowledge Economy. The deal calls for the construction of the facility in Giheung, Gyeonggi Province south of Seoul, the output of which will be supplied to local LED manufacturers.
Linde has invested $270 million in South Korea since 1988, when it set up its operations in South Korea. Linde Korea, the local unit of Linde Group and the nation's No.5 industrial gas manufacturer, generated 155 billion won ($137.107 million) in sales with a market share of 11.9% in 2008. The German company posted sales of $17 billion with a global market share of 26% in 2008, trailing France's Air Liquide with 27%.
