Ulsan City Selected for This Year's Preliminary Hydrogen Specialist Company Support Project

More Than 10 Preliminary Hydrogen Specialized Companies to Be Selected and Discovered
Up to 70 Million KRW in Support for Hydrogen Businesses

Ulsan City has been finally selected as the regional company support agency for the "2025 Preliminary Hydrogen Specialized Company Support Project" hosted by the Ministry of Trade, Industry and Energy.

This competition, which has been managed by the Korea Hydrogen Association since last February, saw Ulsan City selected as the final winner through a nationwide local government competition, document review, and an evaluation committee’s face-to-face assessment. The selected local governments (Ulsan City and Busan City) will receive a total of 900 million KRW in national funding over the next two years.

Ulsan City plans for Ulsan Technopark, the dedicated agency for corporate support, to accept applications for support from small and medium-sized enterprises (SMEs) and mid-sized companies around April. After on-site evaluations, more than 10 preliminary hydrogen specialized companies will be discovered and selected, with each company receiving a minimum of 50 million KRW and up to 70 million KRW in support.

Hydrogen specialized companies are designated under the "Hydrogen Economy Promotion and Hydrogen Safety Management Act," which has been in effect since February 2021. Companies are designated as hydrogen specialized companies if their hydrogen business sales ratio or R&D investment ratio meets the legal requirements.

Preliminary hydrogen specialized companies are SMEs or mid-sized companies that do not yet meet the requirements for hydrogen specialized companies but possess technological capabilities or sales performance in the hydrogen sector, indicating strong growth potential.

The support includes: △ Prototype production, certification acquisition, technology introduction and protection, use of research equipment for technology commercialization △ Participation in exhibitions, market research, and design improvement for market development △ Additionally, promotion and technology development. The program is systematically structured to support new and transitioning companies in entering the hydrogen market, providing technical support and business development assistance.

An Ulsan City official stated, "With this selection, we will discover companies with promising growth potential and innovative technologies or products in the hydrogen sector, support their business success, and nurture them into global core hydrogen specialized companies, thereby leading the expansion of the hydrogen industry ecosystem."

Since February 2021, the government has been designating companies that meet certain criteria as hydrogen specialized companies and implementing various support policies, such as additional funding for R&D, overseas expansion, and attracting local investment companies. Currently, about 110 companies have been designated.