By identifying and supporting outstanding hydrogen businesses in the area that will drive the hydrogen economy, Pohang City, Gyeongsangbuk-do hopes to lay the groundwork for becoming a hub city for the hydrogen economy.
The city will begin working on the “2023 preliminary hydrogen-specialized company fostering assistance project” in order to support hydrogen-related businesses in the area as hydrogen-specialized businesses designated by the Ministry of Commerce, Industry, and Energy.
The project is carried out by Pohang Techno Park with a combined investment of 550 million won from the city and the province. With excellent technologies and business offerings in the area of hydrogen fuel cells, the Pohang-based companies involved in this project are supported throughout the entire cycle of technology commercialization and are assisted in becoming “hydrogen-specialized companies,” as defined by the Ministry of Industry.
From March 3 through March 24, Pohang local businesses with strong growth prospects and technological competitiveness can submit applications to Pohang TP for this year’s preliminary hydrogen specialized company fostering support project. The target companies are chosen by separating them into one company, whose head office or branch is a hydrogen company located in Pohang, and whose average sales over the previous three years are over 2 billion, and seven companies, whose average sales over that same period are less than 2 billion. By the creation and certification of prototypes, the purchase of intellectual property rights, and the submission of exhibition proposals, the city intends to encourage the commercialization of technology.
In order to apply for Ministry of Industry confirmation as hydrogen specialized companies in accordance with sales requirements, the chosen prospective hydrogen specialist companies are given support worth up to 100 million won in the areas of prototype production, certification/intellectual property rights, and exhibitions. They are also given the opportunity to consult with specialized institutions.
The city intends to optimize synergy by connecting top hydrogen businesses that will guide the regional hydrogen economy with clusters of hydrogen fuel cell power generation and hydrogen fuel cell certification facilities in order to become a hub city for the eco-friendly hydrogen economy.
The city is now conducting a preliminary feasibility evaluation for the development of a hydrogen fuel cell power generation cluster after the Pohang Blue Valley National Industrial Complex was chosen for the Ministry of Industry’s hydrogen convergence complex demonstration project last year.
The Hydrogen Fuel Cell Certification Center in Pohang TP, a test facility authorized by KOLAS (Korean Accreditation Organization), is currently putting the finishing touches on its application to become a hydrogen fuel cell test facility certified by KS (Korean Industrial Standard).
The city intends to create a master plan for hydrogen city development this year after being chosen as the Ministry of Land, Infrastructure and Transport’s target region for the project last year.