July 7, 2022

The South Korean industry ministry announced that they intend to boost production of clean hydrogen and expand its production and consumption infrastructures, and making it the country’s No. 1 energy source by 2050.

Such push in plans is part of the government’s comprehensive blueprint on the hydrogen economy. The country as pledged aims the development of hydrogen and other renewable energy as an alternative to fossil fuels with a goal to go carbon neutral by 2050.

According to the Ministry of Trade, Industry and Energy, the government’s plans to provide 27.9 million tons of hydrogen per year by 2050, and all of it will be either blue hydrogen or green, excluding grey hydrogen.

In order to achieve the goal, the government will establish large-scale production facilities for green hydrogen and lower the production costs. By 2030, it plans to secure carbon storage facilities with a capacity of 900 million tons or more, and by 2050, produce 2 million tons of blue hydrogen each year.

The country as of 2020 had not produced clean hydrogen.

The government by 2050 aims to speed up cooperation with hydrogen producing countries to secure around 40 hydrogen supply channels.

According to the ministry, it expects hydrogen to become the country’s largest single energy source in 2050, accounting for 33 percent of the total energy consumption.

At present, oil is the No. 1 source of energy for the country, taking up nearly 50 percent of the total.

The ministry added that by 2050 the country will set up more than 2,000 charging stations nationwide. There would be at least one charging station to be established at 226 wards and all counties nationwide.

According to reports, the government also plans to encourage such sectors as steel and chemical to turn to hydrogen-based production process and to apply the clean energy source to various means of transportation.

Prime Minister Kim Boo-kyum said, presiding over a meeting of the hydrogen economy commission commented that hydrogen is the most powerful means of achieving the zero-carbon goal. While they will strive to establish an innovative ecosystem across the hydrogen economy and focus on developing and commercializing key advanced technologies and nurture talents.