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South Korean Government Plans to Invest Even More into Hydrogen Industry

By August 20, 2020 < 1   min read  (161 words)

August 20, 2020 |

Korea Hydrogen Green Deal

The South Korean government will invest a total of 586.6 billion won to support the development of the country’s hydrogen fuel cell vehicle industries, the Minister of Trade, Industry and Energy Chung Seung-ilĀ  said during the 2020 Energy Strategy Forum, which was attended by representatives from the US, China, Japan, Germany, France, the Netherlands and the UK on August 19.

“There is an urgent need to respond to accelerating climate change, “he said, adding that the project will lead to the development of the country’s hydrogen fuel cell and electric vehicle industries.

He also said South Korea’s hydrogen economy will grow as a result of state investment in the storage and distribution of hydrogen. We expect this to be possible within two years, he said in his speech, adding that his government will also support hydrogen liquid oil stations, which do not require the land generally needed for hydrogen charging stations, so that companies can make major investments in new businesses.

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