"Welcoming the Implementation of the Hydrogen Economy Act... It Will Be an Opportunity to Lead the Global Market"

Enforcement of the Act on Fostering the Hydrogen Economy and Hydrogen Safety Management on the 5th
World's First Independent Legislation Established

[Asia Economy Reporter Yu Je-hoon] As the "Act on the Promotion of Hydrogen Economy and Hydrogen Safety Management (Hydrogen Economy Act)" comes into effect on the 5th, domestic hydrogen-related companies and affiliated organizations have issued a joint statement welcoming the move.

According to the Hydrogen Convergence Alliance Promotion Group (H2KOREA) on the 5th, hydrogen industry-related companies and affiliated organizations released a joint statement saying, "We actively welcome the enforcement of the Hydrogen Economy Act and expect it to be a decisive opportunity to solidify Korea's authority and status as a first mover in the hydrogen economy, leading global hydrogen economy policies and markets."

They stated, "Recently, the world is pursuing Net Zero policies aiming for zero net greenhouse gas emissions, focusing on reducing fine dust and greenhouse gases to tackle climate change," adding, "Major advanced countries recognize hydrogen energy as a realistic alternative for energy transition and are promoting various hydrogen economy development strategies."

They continued, "Korea is the only country to establish an independent legal system as the foundation for policy continuity, making the enforcement of the Hydrogen Economy Act today highly significant," emphasizing, "The Hydrogen Economy Act, consisting of a total of 62 articles, will establish systems for implementing the hydrogen economy, fostering and supporting specialized companies, creating production and utilization infrastructure, and managing safety of usage facilities."

They also stated, "Through win-win cooperation, we will promote overall economic growth by creating jobs, discovering new businesses, nurturing talent, and developing technologies, and we will do our best to respond to climate change through carbon neutrality."