Prime Minister Jeong Sye-gyun: "Creating 'Saemangeum Green Industrial Complex' Utilizing Hydrogen Energy... Cultivating 1,000 Companies by 2040"

First Hydrogen Economy Committee Meeting Held
Prime Minister Jeong Emphasizes "Transition to Hydrogen Economy Is Both an Obligation and an Opportunity for Our Generation"

Prime Minister Chung Sye-kyun is delivering a keynote speech at the 1st Hydrogen Economy Committee held at KINTEX in Goyang, Gyeonggi Province on the 1st. Chaired by Prime Minister Chung Sye-kyun, this committee, which includes government and private members, will serve as a control tower for the hydrogen economy at the whole-of-government level. Discussions will cover plans to create a hydrogen industry ecosystem and designate a dedicated agency, aiming to foster the hydrogen economy and establish momentum to become a leading hydrogen industry nation. / Goyang - Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Lim Cheol-young] "Saemangeum will establish the 'Saemangeum Green Industrial Complex' using green hydrogen as the main energy source and foster 1,000 competitive hydrogen-specialized companies by 2040 to create a hydrogen ecosystem."

Prime Minister Chung Sye-kyun announced this on the 1st at the 1st Hydrogen Economy Committee held at KINTEX in Goyang, Gyeonggi Province. In his opening remarks, he stated, "Due to climate change, the transition to a so-called 'hydrogen economy' centered on renewable energy and hydrogen is accelerating, and many countries are competing to seize opportunities amid this 'civilizational transition.'" The committee, chaired by Prime Minister Chung and composed of government and private members, will serve as a government-wide control tower for the hydrogen economy.

Although the 'Hydrogen Economy Promotion and Hydrogen Safety Management Act,' which provides the legal basis for establishing the Hydrogen Economy Committee, will be enforced in February next year, the government held the first meeting on this day to accelerate progress. Previously, in January last year, the government established the 'Hydrogen Economy Activation Roadmap,' which includes a vision to produce 6.2 million hydrogen vehicles by 2040 and become the world's number one. Subsequently, Korea achieved titles such as the global leader in hydrogen vehicle sales, the largest number of hydrogen charging stations, and the world's largest fuel cell market last year.

Prime Minister Chung emphasized, "Due to decreased demand and oversupply of fossil fuels, even oil companies are expanding investments in decarbonized and clean energy instead of oil," adding, "The Hydrogen Economy Committee is a place to answer the question of whether we will follow these changes or become the first mover and lead the way."

Accordingly, the government plans to expand support for technology development and demonstration for green hydrogen production. Prime Minister Chung said, "We will expand the scale of the water electrolysis system demonstration project currently underway in connection with wind power generation and strengthen international cooperation to build a green hydrogen supply chain. We will establish the 'Saemangeum Green Industrial Complex,' which utilizes renewable energy and green hydrogen as the main energy sources in Saemangeum, the largest renewable energy power generation complex in the country, and nurture it as a hub for green hydrogen."

He also announced plans to foster 1,000 competitive hydrogen-specialized companies by 2040. Prime Minister Chung stated, "While large corporations dominate hydrogen utilization fields such as hydrogen vehicles, the hydrogen supply sector has many hidden champions with specialized technologies," emphasizing, "We will nurture medium-sized enterprises so that our economy can become a robust jar-shaped economy with a strong middle section by seizing the hydrogen industry as an opportunity."

A safety evaluation system will also be introduced, and a dedicated agency will be designated. Prime Minister Chung said, "Hydrogen safety is crucial to accelerate the transition to a hydrogen economy and enhance industrial competitiveness," adding, "We will introduce a 'safety evaluation system' for hydrogen charging stations and strengthen safety management to meet public expectations by expanding the scope of safety certification target items."

He continued, "The transition to a hydrogen economy is both an obligation and an opportunity for our generation," adding, "If there was a time when advanced countries were evaluated at the level of the automobile industry, which concentrates engineering capabilities, our youth generation will be evaluated at the level of the hydrogen industry, an eco-friendly advanced technology industry."