Korea's Rapid Growth in Hydrogen Fuel Demand
Key Ideas
- Korea's demand for hydrogen fuel in the mobility sector surged by 64% in 2024, driven by the increased presence of hydrogen buses.
- The country's hydrogen fuel demand in the mobility sector rose to 9,499 tons in 2024, compared to 5,791 tons in the previous year.
- The government's initiative includes plans to increase the number of hydrogen fuel cell buses from 1,000 units to 20,000 by 2030.
- There is a focus on ensuring a stable supply of hydrogen to support the efficient operation of hydrogen buses and facilitate the needs of hydrogen car drivers.
In South Korea, specifically in Incheon, there has been a significant surge in the demand for hydrogen fuel in the mobility sector. Data from the Ministry of Trade, Industry and Energy revealed a 64% increase in hydrogen fuel demand in 2024 compared to the previous year, attributing this growth to the growing number of hydrogen buses in the country. The total hydrogen fuel demand for mobility reached 9,499 tons in 2024. The government's proactive approach includes the registration of 1,000 hydrogen fuel cell buses, a notable rise from the previous year's 650, with plans to escalate this number to 20,000 by 2030. The government aims to ensure a consistent supply of hydrogen to maintain the smooth operation of hydrogen buses and cater to the requirements of hydrogen car drivers. This emphasizes a positive outlook towards hydrogen as a sustainable fuel source for the future in South Korea.