Pohang City Fosters Hydrogen Specialized Companies... Lays Foundation as a 'Hydrogen Economy Hub City'

Discovering and Nurturing Excellent Technology Companies in the Hydrogen Fuel Cell Sector, Focusing on Hydrogen City Development Capabilities

Up to 100 Million KRW Support for Prototype Production and Intellectual Property Acquisition for Prospecti

Pohang City is actively working to discover and nurture outstanding hydrogen companies within the region that will lead the hydrogen economy.

Poster for Recruitment of Participating Companies in the Preliminary Hydrogen Specialized Company Development Support Project.

The city is implementing the ‘2023 Preliminary Hydrogen Specialized Company Development Support Project’ to foster local hydrogen-related companies as hydrogen specialized companies designated by the Ministry of Trade, Industry and Energy (hereinafter referred to as the Ministry of Industry).

This project, carried out by Pohang Technopark (hereinafter Pohang TP) with a total budget investment of 550 million KRW from Pohang City and Gyeongbuk Province, supports the entire process of technology commercialization for hydrogen fuel cell-related companies located in Pohang that possess excellent technology and business items in the hydrogen fuel cell field, and further helps them grow into ‘hydrogen specialized companies’ recognized by the Ministry of Industry.

The 2023 Preliminary Hydrogen Specialized Company Development Support Project accepts applications from Pohang-based companies with high growth potential and technological competitiveness at Pohang TP from the 3rd to the 24th.

The selected companies are divided into one company with an average sales revenue of 2 billion KRW or more over the past three years and seven companies with less than 2 billion KRW, all of which must have their headquarters or branches located in Pohang.

Pohang City plans to support technology commercialization such as prototype production, certification, intellectual property acquisition, and exhibition participation.

Selected preliminary hydrogen specialized companies will receive up to 100 million KRW in corporate support for prototype production, certification/intellectual property, and exhibition fields, as well as opportunities for consulting by specialized institutions to apply for Ministry of Industry hydrogen specialized company verification according to sales revenue requirements.

Hydrogen specialized companies are those confirmed by the Ministry of Industry under Article 11 of the Act on the Promotion of Hydrogen Economy and Hydrogen Safety Management, where the proportion of sales revenue or investment amount related to hydrogen business exceeds a certain ratio of total sales revenue. These companies can receive government support such as hydrogen-related technology development, commercialization, subsidies, and loans.

Pohang City plans to maximize synergy by collaborating with excellent hydrogen companies leading the local hydrogen economy, linked with the hydrogen fuel cell power generation cluster and the hydrogen fuel cell certification center, to advance as an eco-friendly hydrogen economy hub city.

Hydrogen Fuel Cell Certification Center, 5th Venture Building, TP.

The city was selected for the Ministry of Industry’s hydrogen convergence complex demonstration project at the Pohang Blue Valley National Industrial Complex, and a preliminary feasibility study for establishing a hydrogen fuel cell power generation cluster is currently underway.

The Hydrogen Fuel Cell Certification Center (located within Pohang TP), currently operating as a KOLAS (Korea Laboratory Accreditation Scheme) accredited testing institution, is also preparing to be designated as a KS (Korean Industrial Standards) certification entrusted testing institution in the hydrogen fuel cell field.

Additionally, since Pohang was selected as a target area for the Ministry of Land, Infrastructure and Transport’s hydrogen city creation project last August, it plans to proceed with establishing a master plan for hydrogen city creation this year to officially start the project.

Jung Gyudeok, Director of the Hydrogen Energy Industry Division, said, “As the hydrogen economy is emerging as a mainstream energy source for sustainable development in the era of climate change, Pohang City will focus its capabilities on fostering excellent hydrogen companies and establishing a foundation for an eco-friendly hydrogen energy industrial city to realize a mid- to long-term hydrogen society.”