This aims to increase the supply of hydrogen vehicles by removing one of the hurdles to entrance into the usage of hydrogen vehicles: the difficulty of charging.
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The government also unveiled a plan to support 30 worldwide hydrogen firms by 2030, resulting in the creation of 50,000 hydrogen-related employment.
Park Ki-young, Vice Minister of Trade, Industry, and Energy, made this comment on the 29th during a carbon neutrality meeting with leaders of firms in the Energy Alliance.
Physically storing hydrogen, such as compression or liquefaction, is a common technique of hydrogen storage, although it takes more energy to increase storage capacity and expensive distribution infrastructure.
According to the Ministry of Trade, Industry, and Energy, the funding will also be utilized to investigate ways to adapt hydrogen fuel cells used in Hyundai Motor Co.’s Nexo SUVs and use them in trams.
As part of industry-wide efforts to minimize carbon emissions and grab a rising share of the burgeoning energy market, the business leaders created the Korean version of the Hydrogen Council — a global coalition of CEOs committed to speeding the energy transition with hydrogen.
Korean auto, chemical, and steel businesses have announced hydrogen business road maps to stimulate demand and develop new growth drivers as part of the global energy transformation.
The Ministry of Trade, Industry, and Energy (MTIE) and the state-run Korea Gas Safety Corp. (KGS) announced that a new safety monitoring system for hydrogen filling stations had begun full-scale operations.
The project will help the government meet its goal of putting 6.2 million hydrogen vehicles on the road by 2040, including 5.9 million passenger cars, 60,000 buses, 120,000 taxis, and 120,000 trucks.
In order to improve core materials and processes, the two institutes aim to extend their collaboration into fields such as AI (artificial intelligence) and DX (digital transformation).
