South Korea's Hydrogen Revolution: Mobility Sector Sees 59% Surge in Demand
Key Ideas
- South Korea experiences a significant 59% increase in hydrogen demand in the mobility sector from January to September.
- Government officials emphasize the importance of stable hydrogen supply for fostering the hydrogen mobility industry.
- Three cities in South Korea are designated as hydrogen-specialized complexes to develop into hydrogen industry hubs, following successful feasibility surveys.
- Investments totaling billions of won are planned for building hydrogen clusters and infrastructure to support the growth of the hydrogen sector in the designated cities.
South Korea has witnessed a substantial surge in hydrogen demand in the mobility sector, with consumption reaching 6,389 tons in the first nine months of the year, a 59% increase compared to the previous year. Deputy Minister for Energy Policy, Lee Ho-hyeon, highlighted the growing presence of hydrogen buses and products in daily life, signaling a promising future for the hydrogen industry. The government is actively involved in ensuring a stable hydrogen supply by closely monitoring the market and collaborating with relevant stakeholders. Additionally, the Korea Petroleum Quality & Distribution Authority is conducting inspections at hydrogen facilities to uphold market stability. The government's decision to designate Donghae, Samcheok, and Pohang as the nation's first hydrogen-specialized complexes demonstrates a commitment to promoting hydrogen-based initiatives. These cities passed feasibility surveys and will receive significant investments to develop hydrogen clusters, storage, and generation facilities. The projects aim to support hydrogen-related companies and enhance South Korea's position as a key player in the hydrogen economy.
Topics
Public Transit
Investment
Government Support
Energy Policy
South Korea
Mobility Sector
Industry Hubs
Hydrogen Economy Committee
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