The Hydrogen Industry in Korea Today and Measures to Enhance its Competitiveness

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 23/22, Research Papers from Korea Institute for Industrial Economics and Trade

Abstract: South Korea's active hydrogen industry policy has fueled significant growth, with the number of firms increasing 56 percent by 2021 and industry-wide revenue rising 474 percent. Participation by large corporations led to this rapid expansion, but our analysis identifies further key steps: 1) developing and localizing core materials and technologies to transform the industry into a new growth engine, and 2) incentivizing small and medium enterprises to participate, sustaining the momentum. This study proposes two key policy actions to strengthen the position of the Korean hydrogen industry: 1) foster targeted demand, particularly in the mobility sector, and 2) bolster the supply chains of core materials for hydrolysis and fuel cells.

Keywords: hydrogen; hydrogen energy; alternative energy; renewable energy; green hydrogen; hydrogen policy; hydrogen industry; hydrogen fuel cells; transportation industry; hydrogen supply chains; Korea; KIET (search for similar items in EconPapers)
JEL-codes: Q41 Q42 Q48 Q55 Q58 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2023-11-30
New Economics Papers: this item is included in nep-ene, nep-env, nep-inv and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:ris:kietrp:2023_022

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