South Korean efforts to transition to a hydrogen economy
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ORIGINAL PAPER
South Korean efforts to transition to a hydrogen economy Troy Stangarone1 Received: 31 March 2020 / Accepted: 27 August 2020 © Springer-Verlag GmbH Germany, part of Springer Nature 2020
Abstract As the world increasingly looks to renewable energy sources to deal with climate change, South Korea is aiming to become a leader in the development of hydrogen as an alternative energy source. In developing an ecosystem for a hydrogen economy, South Korea is focused on increasing the production and use of hydrogen vehicles, establishing an ecosystem for the production and distribution of hydrogen and related technologies, and expanding the production of fuel cells. The government’s vision has the backing of key industrial firms, most importantly the Hyundai Motors Group which plans on investing 7.6 trillion won ($6.7 billion) under its “FCEV Vision 2030” and is part of the HyNet consortium to build 100 new hydrogen refueling stations in South Korea by 2022. If South Korea’s vision is successful, it expects hydrogen to account for 5% of its projected power consumption in 2040, to see its economy grow by 43 trillion won, 420,000 new jobs created, and significant reductions in both fine dust and greenhouse gas emission. Graphic abstract
Keywords Hydrogen · Hydrogen economy · FCEVs · Fuel cells · Roadmap · South Korea * Troy Stangarone [email protected] Extended author information available on the last page of the article
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T. Stangarone
As the world increasingly looks to renewable energy sources to deal with climate change, South Korea is aiming to become a leader in the development of the hydrogen economy. The vision laid out by South Korean President Moon Jae-in calls for South Korea to focus on increasing the production and use of hydrogen vehicles, establishing an ecosystem for the production and distribution of hydrogen and related technologies, and expanding the production of fuel cells. While the Hydrogen Economy Roadmap developed by the Moon administration covers different components of developing a hydrogen-based economy, much of the plan will rest on South Korea’s ability to expand the acceptance of fuel cell electric vehicles (FCEVs) first in South Korea’s domestic market and in time in markets around the world. However, if South Korea is successful in developing hydrogen as more than a niche energy source domestically, its success could serve as a demonstration of the technology’s viability and offer insights into the best means of transitioning to a hydrogen-based economy.
Why South Korea is pursuing a hydrogen‑based economy As South Korea and the international community work to decarbonize energy, hydrogen is increasingly viewed as a promising alternative that can address South Korean concerns related to the environment, energy security, and economic growth. While South Korea does have offshore wind potential (International Energy Agency 2019), its onshore wind and solar potential are more limited (ESMAP 2020). While green hydrogen can be produced with renewable energy, th
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