The Ministry of Trade, Industry, and Energy signed a business agreement (MOU) with 30 companies and institutions to build an overseas clean hydrogen supply chain and formed the Green Hydrogen Overseas Business Group. The project is planning to import clean hydrogen from overseas before 2030.
The agreement calls of the ministry and the agreement partners to conduct a six-month feasibility study on overseas candidates capable of supplying clean hydrogen.
By May of this year, the number of supply of hydrogen-electric vehicles in Korea has increased by 120% from 1008 units in the same period last year to 2231 units now, and fuel cells are also expected to be completed by more than 180MW by the second half of this year. In addition, although the hydrogen charging station slumped to Corona 19 earlier this year, the government anticipates being able to have 100 hydrogen stations open by the end of the year.
The South Korean government estimates that the domestic hydrogen demand for transport purposes will reach 4,000 tons this year, 370,000 tons in 2030, and one million tons in 2040. In particular, if the use of hydrogen in industries such as steel and chemicals expands, the importance of hydrogen supply is expected to become more important.
Accordingly, after 2030, it is estimated that 10-50% of domestic demand will need to be procured overseas. Japan, similar to Korea, is also actively pursuing hydrogen introduction projects in Australia and Brunei.
The Ministry of Commerce, Industry, and Energy is planning to find a way to introduce inexpensive clean hydrogen through the overseas business team launched with this agreement.