Revitalizing Korea's Hydrogen Economy: Challenges and Opportunities
Key Ideas
  • Global interest in hydrogen as a carbon-free energy source is on the rise, with McKinsey predicting it will account for 18% of global energy demand by 2050.
  • Korea's hydrogen industry ecosystem is identified as less competitive compared to advanced countries, with weaknesses in production, storage, and transportation.
  • Chairman Kim Jae-hong of the Korea Hydrogen Federation emphasizes the urgency of investment in infrastructure, production technology, and eco-friendly hydrogen solutions.
  • Efforts are being made to strengthen the domestic hydrogen industry through designated 'Hydrogen Day', increased R&D, and the promotion of new technology development and commercialization.
Kim Jae-hong, chairman of the Korea Hydrogen Federation, is pushing for increased government investment to boost the domestic hydrogen economy. With global interest in carbon reduction rising, hydrogen is gaining attention as a key carbon-free energy source, projected to take up 18% of global energy demand by 2050. However, Korea's hydrogen industry lags behind in competitiveness, particularly in the areas of production, storage, and transportation. The gap in green and blue hydrogen technologies is a concern, prompting calls for urgent infrastructure and production technology investments. The Korea Hydrogen Federation, formed in 2017, aims to revitalize the domestic hydrogen economy, with Chairman Kim highlighting the need to focus on production, distribution, and R&D advancements. Addressing the eco-friendly debate around hydrogen is crucial, with discussions on the pricing and technology of green and blue hydrogen. The Federation is working on establishing research associations, promoting new technology development, and enhancing the influence of domestic companies in the mobility sector, including hydrogen cars. Efforts are underway to strengthen Korea's position in the hydrogen industry through increased support for R&D, infrastructure, and safety projects. The push for eco-friendly hydrogen solutions and improved industrial growth remains a top priority. By focusing on technology advancements, economic feasibility, and commercialization support, Korea aims to overcome challenges and seize opportunities in the growing hydrogen economy.
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