South Korea moves to hydrogen transport plan, and represents the “hydrogen economy”

The new plan of the government of South Korea to create a “hydrogen economy” provides a significant increase in the number of fuel cell vehicles produced in the country. Although by 2018, it produced only about 2 000 such vehicles, it is expected that by 2025 the number will increase to 100 000.

The cars fuel cell Hyundai Nexo fueled with hydrogen © hyundainews.com

By 2040 it is planned a further sharp increase to 6.2 million fuel cell vehicles, of which 3.3 million will be exported. The government wants to achieve this through the expansion of infrastructure: the number of hydrogen fueling stations is expected to increase from 14 last year to 310 by 2022 and up to 1200 by 2040. In addition, the government plans to reduce the average price of a hydrogen car up to 27,000 euros at the expense of subsidies. The hydrogen should also be much cheaper: the goal is that by 2040 to reduce the cost of production from about 6,25 Euro per kg to 2.34 euros per kg.

As for the number of fuel cell vehicles in Korea, the government intends to encourage the purchase of such vehicles in the shortest possible time to increase the number of cars with 712 registered in 2018, up to 4000 by the end of this year.

It is expected that public transport and commercial transport will also be converted to hydrogen fuel. The long-term aim of the government to introduce a total of 40,000 buses on hydrogen fuel, 80 000 taxis and 30,000 trucks, as well as to stimulate domestic production suitable for these vehicles, components

“The hydrogen economy — a revolutionary shift in the industry in which the energy source changes from coal and oil into hydrogen,” says President mun Gain. “Hydrogen will create new industries and jobs for the production, storage, transportation and use it. It also provides an opportunity for Korea to provide a new engine of growth”. In particular, the government expects that a hydrogen economy will create nearly 420 000 jobs by 2040.

We will remind, in South Korea at this moment produced only one model of hydrogen car cars — Hyundai Nexo.

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