The Ministry of Trade, Industry, and Energy announced yesterday that it is going to establish a fund for hydrogen economy development. The size of the fund is estimated at 34 billion won ($28M USD) or more,
The fund plans to invest in industries related to the hydrogen economy and companies in the new energy sector, fuel cells, renewable energy and energy storage.
It is expected that this fund will work directly in the hydrogen economy industry, which is in the early market worldwide stages of development.
The Ministry of Commerce, Industry, and Energy plans to increase the global competitiveness of companies through preemptive investments in hydrogen companies and to lead the global hydrogen market. In addition, the policy is to foster small and medium-sized venture companies in Korea and to play a role in creating a related industrial ecosystem.
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