SOUTH KOREA
South Korea is betting big on hydrogen. The market size of Korea is anticipated to reach Korean Won (KRW) 26.8 Trillion by 2030
SOUTH KOREA
The hydrogen economy is of key strategic importance to Korea, a country lacking in both conventional and easily exploitable renewable energy resources. Its industrial gases industry has long been influenced by Japanese, American and German technologies and standards, but as hydrogen begins to play a more transformative role in the broader economy, Korea is keen to ensure it has greater control over the technologies and standards that will underpin that transition. Building on this, the Korean government announced its Hydrogen Economy Roadmap in 2019.
Hydrogen strategy roadmap and targets for S.Korea – A landscape view till 2030
The roadmap aims to deploy 15GW of utility-scale and 2.1GW of commercial and residential fuel cells by 2040. In terms of mobility, the goal is to have 5.9 million fuel cell cars and 60,000 fuel cell buses on the road by 2040 all supported by 1,200 hydrogen refuelling stations.
