South Korea's Hydrogen Demand Surges, Government Initiatives for Industry Growth
Key Ideas
- South Korea's demand for hydrogen in the mobility sector increased by 59% from the previous year, reaching 6,389 tons in the first nine months of the year.
- Government officials emphasize the importance of a stable hydrogen supply to support the growth of the hydrogen mobility industry.
- The government plans to designate three cities as hydrogen-specialized complexes to further develop the hydrogen industry hubs.
- Investments totaling billions of won are planned for building hydrogen storage, shipment clusters, and fuel cell generation clusters in these specialized complexes.
South Korea has seen a significant surge in the demand for hydrogen in the mobility sector, with a 59% increase in consumption compared to the previous year. The country recorded a consumption of 6,389 tons of hydrogen in the period from January to September, a substantial rise from the 4,016 tons consumed a year earlier. Deputy Minister for Energy Policy, Lee Ho-hyeon, highlighted the growing presence of hydrogen buses and products in daily life, indicating a positive trend in the adoption of hydrogen technologies. To ensure a stable hydrogen supply, the government plans to closely monitor the market and collaborate with relevant stakeholders. The Korea Petroleum Quality & Distribution Authority will conduct inspections at hydrogen facilities to maintain market stability. Additionally, the government aims to establish three cities as hydrogen-specialized complexes to boost the hydrogen industry. Donghae, Samcheok, and Pohang are poised to become the nation's first hydrogen industry hubs following successful feasibility surveys. These cities will witness substantial investments in developing hydrogen storage, shipment clusters, and fuel cell generation clusters, signaling a promising future for the hydrogen sector in South Korea.