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Korea’s Hydrogen Industry Policy and Strategy to Establish Overseas Hydrogen Supply Chain

권낙현 (H2KOREA 대외협력센터장)

Curriculum Vitae

General Director, Business Coordination Center, H2KOREA
Technical Specialist, Hyundai Motor Company(HMC)
~2013 Senior researcher, Hyundai Motor Company(HMC)

Abstract

Korea announced its roadmap for the Korean hydrogen economy in January 2019. Subsequent policies for the hydrogen industry have been established and implemented to facilitate its implementation. In February 2020, the Hydrogen Act was enacted for the first time in the world to foster the hydrogen industry, and in July of that year, the government launched the Hydrogen Economic Committee as a hydrogen economy control tower to foster the hydrogen industry. In addition, the government declared a Korean New Deal policy and a carbon-neutral 2050, stating that hydrogen is an important future source of energy along with renewable energy. This year, Korean companies are also expanding the hydrogen market by announcing 43 trillion won in investment in the hydrogen industry in the mid- to long-term, and the Korean Hydrogen Commission will also be established in September 2021. As such, Korea's hydrogen economy is expected to grow rapidly, but the amount of hydrogen consumed in Korea is expected to increase significantly after 2030. In order to introduce insufficient hydrogen from overseas, Korea has established a strategy to establish a three-stage overseas hydrogen supply chain.

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