S. Korea to spend US$ 700 mil. in 2021 to shift to hydrogen economy
- 4 years ago
정총리 "수소경제 전환에 8천억원 지원...퍼스트무버 될 것"
Many countries including the U.S., Japan and China are scrambling to take the lead in making the shift to a hydrogen economy.
But South Korea has signaled its intent to take pole position.
The government has drawn up new plans for a hydrogen-centric energy system...setting aside seven-hundred-million U.S. dollars to spend on infrastructure and key technology.
Our Kim Sung-min reports.
South Korea on Thursday unveiled how it plans to take the lead in shifting to a hydrogen economy.
Prime Minister Chung Sye-kyun, who arrived to Thursday's government meeting in a hydrogen-powered car, has vowed full government support...for the country to become the so-called "first mover".
"There is no particular leader at the moment, so I believe South Korea can become the first mover. The government will work together with domestic companies to shift towards a hydrogen economy."
The government plans to spend another seven-hundred million U.S. dollars next year on infrastructure and developing key technologies.
And to expand distribution, from the year 2022, local energy companies will be obliged to purchase a certain amount of electricity generated from hydrogen fuel cells.
But to lighten the burden on businesses, the price of natural gas used to make hydrogen will be lowered by up to 43 percent.
In partnership with domestic firms like Hyundai Motor Company and SK Energy among others, the government also aims to build around 35 additional hydrogen fuel stations in urban areas...for buses, trucks and automobiles over the next three years.
In addition, four local governments, including the cities of Ulsan, Gyeongsangnam-do Province and Ansan, Gyeonggi-do Province, will operate as hydrogen power test cities.
As well as building so-called "smart farms", hydrogen will be used to supply power to houses and hospitals.
Kim Sung-min, Arirang News
Many countries including the U.S., Japan and China are scrambling to take the lead in making the shift to a hydrogen economy.
But South Korea has signaled its intent to take pole position.
The government has drawn up new plans for a hydrogen-centric energy system...setting aside seven-hundred-million U.S. dollars to spend on infrastructure and key technology.
Our Kim Sung-min reports.
South Korea on Thursday unveiled how it plans to take the lead in shifting to a hydrogen economy.
Prime Minister Chung Sye-kyun, who arrived to Thursday's government meeting in a hydrogen-powered car, has vowed full government support...for the country to become the so-called "first mover".
"There is no particular leader at the moment, so I believe South Korea can become the first mover. The government will work together with domestic companies to shift towards a hydrogen economy."
The government plans to spend another seven-hundred million U.S. dollars next year on infrastructure and developing key technologies.
And to expand distribution, from the year 2022, local energy companies will be obliged to purchase a certain amount of electricity generated from hydrogen fuel cells.
But to lighten the burden on businesses, the price of natural gas used to make hydrogen will be lowered by up to 43 percent.
In partnership with domestic firms like Hyundai Motor Company and SK Energy among others, the government also aims to build around 35 additional hydrogen fuel stations in urban areas...for buses, trucks and automobiles over the next three years.
In addition, four local governments, including the cities of Ulsan, Gyeongsangnam-do Province and Ansan, Gyeonggi-do Province, will operate as hydrogen power test cities.
As well as building so-called "smart farms", hydrogen will be used to supply power to houses and hospitals.
Kim Sung-min, Arirang News