HD Hyundai CEO talks global decarbonization efforts at Davos

Chung Ki-sun, vice chairman and CEO of the Korean shipbuilding and energy conglomerate HD Hyundai, attended the 2024 World Economic Forum in Davos, Switzerland, on Monday, where he discussed global collaborations in decarbonizing the transportation and logistics industries, according to the company on Wednesday.

This engagement follows Chung’s address at the CES 2024 in Las Vegas last week, where he highlighted HD Hyundai's commitment to establishing a hydrogen energy ecosystem and developing a global energy value chain free from carbon emissions.

It also marks Chung's second appearance at the forum, which he attended for the first time in 2023. Chairpersons from other Korean conglomerates, including Samsung, SK, Hyundai Motor and LG, are not attending the event this year.

A highlight of the visit was Chung's bilateral dialogue with Robert Maersk Uggla, chairman of the board of directors of Maersk, the Swedish transport and logistics giant. This exchange, particularly relevant following the recent delivery by Hyundai Mipo Shipbuilding of the world’s first methanol-fueled, eco-friendly container carrier to Maersk, revolved around advancing sustainable practices in shipping. Hyundai Mipo Shipbuilding is an affiliate of HD Hyundai.

Chung was also involved in deliberations with two industry councils at the forum. His participation in the Supply and Transportation Industry Council, comprising CEOs from over 20 leading companies, including Maersk, PSA International, Volvo and DHL, centered around exploring collaborative strategies to accelerate industry-wide decarbonization.

Chung engaged with the Energy Industry Council, which includes representatives from more than 30 global energy firms like Shell, Total Energies, Petronas and Trafigura. These discussions were geared towards mutual decarbonization efforts and the practical application of greenhouse gas reduction strategies in light of the objectives set at COP28.