[Featured Stock] Government Boosts Hydrogen Economy... Iljin Hysolus Up 17%

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] As the government expresses strong support for the transition to a hydrogen economy, related stocks are showing an upward trend.

At 10:32 AM on the 8th, Iljin Hysolus was trading at 71,800 KRW, up 17.51% compared to the previous trading day. Iljin Hysolus is a key mobility parts company with growth potential in hydrogen storage containers. Starting in 2013, it began supplying hydrogen tanks for Hyundai Motor's world-first mass-produced hydrogen vehicle, the 'Tucson ix,' and since 2018, it has also been supplying related parts for the 'Nexo.' Additionally, stocks related to hydrogen refueling stations such as EM Korea (up 7.45%) and hydrogen vehicle parts manufacturers like Unique (up 7.3%) and Pyeonghwa Industry (up 4.24%) are also showing gains.

The day before, the government announced plans to pool national capabilities to become a leading hydrogen economy nation, aiming to convert the currently relatively carbon-intensive gray hydrogen to 100% clean hydrogen by 2050 and install more than 2,000 hydrogen refueling stations nationwide. The government mentioned expanding hydrogen usage from the current level of 220,000 tons to 3.9 million tons by 2030 and 27 million tons by 2050, aiming to build a rapid and dynamic hydrogen economy ecosystem.