Hyundai Motor Executive Vice President Dongwook Kim: "Promoting Standardization of Hydrogen Charging Technology with Toyota"

Keynote Presentation at the 57th Korea-Japan Business Meeting
The Need to Establish a Korea-Japan Global Hydrogen Ecosystem
Securing Economic Feasibility Through Standardization of Charging Equipment
Building a Joint Korea-Japan Hydrogen Supply Chain
Plans for a Joint Demonstration of Hydrogen Mobility

"We plan to continue various forms of cooperation in the hydrogen energy sector, such as promoting the standardization of hydrogen charging equipment and components with Toyota, and discussing the establishment of a Korea-Japan global joint hydrogen supply chain."

On May 28, Dongwook Kim, Executive Vice President and Head of Strategy Planning at Hyundai Motor Company, made these remarks during his keynote presentation at the 57th Korea-Japan Business Meeting held at Lotte Hotel Seoul. Kim emphasized that both the Korean and Japanese governments are continuously working on building a global joint hydrogen supply chain and developing technology, and mentioned the ongoing discussions between Hyundai Motor and Toyota regarding cooperation.

First, he announced plans to standardize charging equipment and components to expand hydrogen charging stations, as well as to carry out a Korea-Japan joint demonstration project for hydrogen mobility. He also stressed the need to establish a global joint hydrogen supply chain at both the government and private sector levels.

Dongwook Kim, Vice President of Hyundai Motor Company, is giving a presentation on "Hydrogen Mobility and Korea-Japan Cooperation" at the 57th Korea-Japan Business Meeting. Photo by Suyeon Woo

Kim explained that, despite the efforts of both Korea and Japan, the reason why the global number of hydrogen vehicles has not exceeded 100,000 units is due to the lack of hydrogen charging infrastructure and the high price of hydrogen supply. Korea currently has about 200 hydrogen charging stations and aims to increase this number to 660 by 2030, while Japan plans to expand from 160 to 1,000 stations during the same period.

Kim emphasized, "If the economic viability or technological safety of hydrogen charging stations is not guaranteed, it will be impossible to rapidly expand the charging network," adding, "Standardizing charging technology through joint efforts by Hyundai Motor, Toyota, Korea, and Japan is more important than anything else."

Regarding hydrogen prices, he noted that Korea and Japan have similar target prices for hydrogen supply. Korea's target price for hydrogen in 2030 is 3,500 won per kilogram, while Japan's is 334 yen per kilogram. Considering that the current domestic hydrogen price is about 10,000 won per kilogram, this means the supply price must be reduced to one-third within the next five years.

Kim argued that Korea and Japan need to join forces to maintain stable hydrogen prices and enhance purchasing power for imported hydrogen. He explained, "It is not easy to lower hydrogen prices through domestic supply alone," and added, "Plans to import hydrogen from overseas must also be realistically pursued." He continued, "To strengthen our bargaining power when importing hydrogen from countries such as Australia and Chile, Korea and Japan need to establish a joint hydrogen supply chain."

Finally, Kim stressed, "Korea and Japan share the same goals regarding hydrogen, and in order to achieve these goals, both countries must work together to build a hydrogen ecosystem." He added, "I hope that this year will be one in which we can strengthen cooperation and achieve tangible results."