This year, the government will provide a total of 16,920 hydrogen-powered automobiles with subsidies. In the case of hydrogen passenger cars, the supply of hydrogen vehicles will be increased significantly by providing a subsidy of 30 million won per unit, which includes local and governmental costs.
Using only domestic technology, South Korea Power Generation has begun to develop hydrogen combustion technology for massive gas turbines.
In order to take the initiative in creating a hydrogen mobility industry ecosystem, the Korea Automotive Research Institute is collaborating with the Abu Dhabi Transportation Authority (DMT) in the United Arab Emirates.
The United Arab Emirates’ (UAE’s) national wealth fund has promised to make its largest-ever investment in South Korea.
The Ministry of Trade, Industry, and Energy has given producers or importers of green hydrogen a legal foundation for subsidizing the difference between the production costs of green hydrogen and gray hydrogen in order to ensure the competitiveness of green hydrogen.
Pyeongtaek, Namyangju, Dangjin, Boryeong, and Gwangyang Pohang are among the six local governments that have been chosen as “hydrogen cities” locations.
Along with the nuclear power industry, Korea is working to develop the hydrogen industry as an axis that will be in charge of ensuring future energy security. One such initiative is accelerating the development of hydrogen infrastructure.
In partnership with the government-run Korea Railroad Research Institute, the Ministry of Land, Infrastructure, and Transport was successful in creating a test car for a hydrogen-powered electric train.
The hydrogen city creation project, run by the Ministry of Land, Infrastructure, and Transportation, has been concluded.
The budget cut for hydrogen-powered vehicles is the result of a thorough analysis of the new circumstances, not of a political conclusion based on regime change. The government is still making considerable efforts to increase the number of hydrogen-powered vehicles available.
