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.
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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).
According to the Korea Automobile Manufacturers Association (KAMA), Korea had the highest rate of hydrogen car distribution in the world as of last month, with 33% of the world’s hydrogen cars in use.
To expand its hydrogen business in the short term, Doosan Group plans to press for synergy in the hydrogen-related business pushed by its affiliates, as well as acquire and merge with other firms.
Korea’s commitment to renewables, energy efficiency and hydrogen can help reduce emissions, enhance energy security and position industry for the…
