[Asia Economy Reporter Kim Bo-kyung] The "Special Act on the Promotion of the Hydrogen Economy and Safety Management" for fostering the hydrogen industry passed the National Assembly plenary session on the 9th. South Korea is the only country that has enacted a hydrogen law to effectively promote the transition to a hydrogen economy.
With the enactment of the hydrogen law, a legal basis has been established to ensure safety for low-pressure hydrogen products such as water electrolysis facilities and hydrogen fuel usage facilities. Water electrolysis facilities are those that produce hydrogen by electrolyzing water using renewable energy and are still in the demonstration stage.
With the passage of this hydrogen law, a "Hydrogen Economy Committee" will be formed and operated to serve as the control tower for the hydrogen economy. Additionally, a dedicated agency can be designated to promote the hydrogen industry and support hydrogen distribution and safety, thereby establishing a system to advance the hydrogen economy transition.
Furthermore, a legal basis has been secured for creating a foundation for the hydrogen industry, including fostering and supporting specialized hydrogen companies, workforce training, and standardization projects.
Currently, major advanced countries such as the United States, Japan, and the EU are implementing various policies to promote the hydrogen economy. However, South Korea is the first country to enact a hydrogen law to effectively and sustainably promote the hydrogen economy transition.
The Ministry of Trade, Industry and Energy stated that, taking advantage of the enactment of the hydrogen law, it plans to make further efforts to build hydrogen industry infrastructure such as hydrogen production bases and hydrogen charging stations to activate private sector investment.
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