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The Korean government and main industrial players of the country signed an agreement to establish a network of hydrogen stations in Korea

The Korean government entered into an MoU (Memorandum of Understanding) with automakers, public institutions and energy companies, involved into hydrogen energy businesses and contributing to the widespread of hydrogen economy worldwide, for establishing a special purpose company (SPC) for installing and operating hydrogen stations in Korea. This announcement was made at the Seoul Press Center on April 25. The companies involved in this future public-private cooperation partnership are Air Liquide Korea, Kogas, Hyundai Motors, Deokyang, SPG, EM solution, Linde Korea, Hyosung, SK Gas, Kwangshin, Sonamu and Nel-Deokyang.

The future partnership will be modelled on what has been achieved in the United States (H2 USA), Japan (Japan H2 Mobility) and Germany (H2 Mobility) where fuel cell electric vehicles and hydrogen stations are deployed through an SPC in which several private corporations are participating.

The Korean government is planning to improve the regulations related to the installation of hydrogen stations based on the assumption that safety is ensured, create a stable hydrogen distribution structure and an adequate hydrogen pricing system, and thus alleviate the burden on the private sector building of hydrogen stations.

In addition, the Government is enhancing the public awareness of fuel cell electric vehicles through hydrogen taxis and car sharing, and planning to verify its possibility in public transportation by introducing hydrogen buses to regular routes in Ulsan in the first half of this year.