Aims to Foster 1,000 Hydrogen Firms by 2040
The South Korean government recently designated 11 hydrogen-specialized companies. It is planning to assist them with regard to R&D, export, and so on and increase the number to 1,000 by 2040.
In this regard, the government will invest 30 billion won a year in each of the five hydrogen industry fields of mobility, fuel cell, charging station, liquid hydrogen and water electrolysis. In addition, it is planning to pursue joint R&D projects with foreign companies.
Products developed by those companies are expected to be given priority in the domestic procurement market and export consulting will be provided for them to have more opportunities in the global market.
Also, preferential financial measures will be provided for those companies and a training academy will provide the manpower they need. A task force consisting of experts from colleges and government-funded research institutes will provide technical support to facilitate their R&D.