South Korea is making significant strides towards clean hydrogen power generation with the announcement of the country's first clean hydrogen power projects. Top bidders including SK innovation E&S, Hanwha Impact Corp., and subsidiaries of state-owned power companies are actively participating in the bidding process facilitated by the Korea Power Exchange. The Clean Hydrogen Energy Portfolio Standard (CHPS), introduced by the Korean government in 2023, is a key driver in the transition to clean hydrogen energy. This regulation mandates entities like Korea Electric Power Corporation (KEPCO) to prioritize the purchase of electricity generated from clean hydrogen and ammonia. The market for clean hydrogen power generation was launched in May 2024 to support this initiative. The initial tender is set at 6,500 gigawatt-hours, aiming to power approximately 1.55 million homes annually. The chosen generators will have the opportunity to sell power at fixed prices to entities like KEPCO for 15 years, starting from 2027 or 2028. Companies like SK innovation E&S and Korea Midland Power are planning projects for LNG-hydrogen co-firing and blue hydrogen production. Hanwha Impact Corp. is driving a hydrogen-fueled power plant project in Daesan, while Korea Southern Power and Korea East-West Power are working on ammonia co-firing projects. The overall goal is to reduce carbon emissions from coal and LNG power generation, with projections indicating that hydrogen and ammonia power will account for 2.4% of Korea's energy mix by 2030 and 5.5% by 2038. The industry recognizes clean hydrogen power as essential in achieving power stability and carbon neutrality amidst the challenges posed by traditional energy sources.