Donga Hwasung "Donga Fuel Cell Signs Hydrogen and Fuel Cell Business and Sales MOU with Japanese Corporation Ecofa"

[Asia Economy Reporter Yoo Hyun-seok] Dong-A Hwasung's subsidiary Dong-A Fuel Cell announced on the 25th that it has signed a memorandum of understanding (MOU) on hydrogen and fuel cell business with Japan's Ecofa.

KOTRA has been holding the 'Korea-Japan Greencar Showcase Consultation' in Tokyo, Japan for two days starting from the 24th, aiming to discover future growth engines for domestic auto parts companies.

Dong-A Fuel Cell, a hydrogen and fuel cell specialized manufacturer participating in this consultation, signed an MOU with Japan's incorporated association Ecofa regarding local certification and sales activities, laying the foundation for the spread of new and renewable energy in Japan and entry into the Japanese market in cooperation with related organizations.

In addition, Dong-A Fuel Cell is conducting detailed discussions to form a consultative body with related organizations involved in the spread of new and renewable energy in Japan. Dong-A Fuel Cell plans to complete certification after improving its system to suit the Japanese environment in the first half of 2022. Furthermore, after a pilot distribution project in Japan early next year, it will officially enter the Japanese market from the second half of the year.

Park Dal-young, CEO of Dong-A Fuel Cell, said, "We are actively attempting to enter the Japanese market, and we thank KOTRA and the Korea Mining Industry Promotion Association for providing this opportunity."

At the end of last year, Japan declared a goal of net-zero carbon dioxide (CO2) emissions by 2050. There is significant interest in eco-friendly transportation, which accounts for about 19% of current emissions (confirmed in 2018). The Japanese government is also actively promoting support for the development of related technologies.

Also, as related online events for eco-friendly vehicles have continued recently due to COVID-19, there has been a flood of requests from Japanese buyers wanting to see the actual products. KOTRA Tokyo Trade Center is utilizing all means, including samples, product PR seminars, and real-time video consultations, to recreate the pre-COVID consultation environment.

Jung Woi-young, head of KOTRA's Japan Regional Headquarters, said, "Eco-friendly vehicles are a promising market with increased interest from general consumers due to various support policies from the Japanese government. We plan to support our companies by promoting various support projects, including exhibitions and consultations, joint technology development, and both online and offline due diligence services."