Seeking Cooperation with Korea
The Korea Trade-Investment Promotion Agency said in its report on Oct. 6 that Australia’s hydrogen economy is growing fast along with the possibility of its cooperation with South Korea in the sector.
These days, Australia as a major coal exporter is turning itself into a hydrogen producer and exporter under the global trend of carbon neutrality. The Australian government is planning to lower its hydrogen production cost per kilogram to less than AUD2 by 2030 and shut down every thermal power plant in the country by 2040. In addition, 75 percent of the hydrogen it produces will be exported until 2050 and more than 8,000 jobs will be created in the sector.
At present, it is said that Australia’s infrastructure and technology are somewhat insufficient in the field of hydrogen transport, storage and utilization. The Australian government is hoping for cooperation with South Korea, a leader in the field. Australian Prime Minister Scott Morrison stressed the importance of such cooperation with South Korea at the G7 summit in June.