Korea Petroleum Management Service Holds Launch Ceremony for Hydrogen Distribution Agency... Official Start of Operations

The Korea Petroleum Management Service announced on the 15th that it officially began its hydrogen distribution management duties with the launch ceremony of the Hydrogen Distribution Dedicated Organization held at its headquarters auditorium in Seongnam-si, Gyeonggi-do.

The Service was designated as the Hydrogen Distribution Dedicated Organization by the Ministry of Trade, Industry and Energy in January under the "Act on the Hydrogen Economy and Hydrogen Safety Management," and will leverage its capabilities in petroleum and petroleum alternative fuel distribution management to carry out distribution management tasks aimed at stabilizing the supply and price of hydrogen for transportation.

In particular, with the expected significant increase in the supply and demand of hydrogen for transportation due to the operation of liquefied hydrogen plants and the expansion of hydrogen bus deployment starting this year, the role of the Hydrogen Distribution Dedicated Organization for transportation based on an on-site response system is expected to become even more important.

The Service plans to first operate a supply and demand response team to continuously monitor the supply and demand status by company and focus on stable hydrogen supply by supporting volume reallocation among companies in emergencies.

Additionally, it will smoothly take over and stably operate the hydrogen distribution information system, striving to prevent any inconvenience to hydrogen vehicle users through real-time information updates and the development of user convenience features.

Cha Dong-hyung, Chairman of the Korea Petroleum Management Service, said, "By starting hydrogen market management duties following petroleum, LPG, and biofuels, the Service has taken its first step as a comprehensive distribution management specialized organization for transportation energy in the carbon-neutral era." He added, "We will support the government to ensure the stable operation of the hydrogen market for transportation and closely communicate and cooperate with various members within the hydrogen industry ecosystem to resolve difficulties faced by the industry and consumers."