The Economic Characteristics of the Hydrogen Industry

Sul-Ki Lee ()
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Sul-Ki Lee: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 23-11, Industrial Economic Review from Korea Institute for Industrial Economics and Trade

Abstract: Korea lacks an abundance of natural resources, and has not traditionally been recognized as a major player in the energy industry. Accordingly, Korean energy policy has focused on the national power generation mix, rather than on industrial development. This trend has continued until very recently; only now is there growing momentum for expanding the proportion of renewable energy in the energy mix. However, there is an increasing need to cultivate new and renewable energy industries such as hydrogen, wind power, and solar power individually. We see this manifest in the new organizational re-composition of government ministries. To enhance the competitiveness of the domestic hydrogen industry during the transition to a hydrogen economy, it is essential to implement successful industrial policies. The purpose of this study is to examine the development of Korean hydrogen industry from an industrial research prospective. Specifically, the works outlines a strategy for fostering the hydrogen industry to facilitate a quick transition to a hydrogen economy.

Keywords: hydrogen; hydrogen energy; renewable energy; alternative energy; energy policy; renewables policy; energy development strategy; renewables strategy; Korea (search for similar items in EconPapers)
JEL-codes: Q40 Q41 Q42 Q43 Q48 Q49 Q53 Q54 Q55 Q56 Q58 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2023-04-30
New Economics Papers: this item is included in nep-ene, nep-env and nep-inv
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