This photo, taken on June 3, 2020, shows Hyundai Motor Co.’s first charging station for hydrogen-powered commercial vehicles at its Jeonju plant, 240 km south of Seoul.
SEOUL, March 3 (Korea Bizwire) — South Korea will extend support for smaller hydrogen-specialized companies with a goal to raise the number of such firms to 600 by 2030 from the current 60 in line with growing demand for clean energy, the industry ministry said Friday.
The government will revise a law by July to lower the bar for companies in the field eligible for state budget and other support for technology development and marketing, according to the Ministry of Trade, Industry and Energy.
Currently, hydrogen companies with annual sales of over 2 billion won can receive state support, but the revision will call for giving it also to those with more than 1 billion won in sales and half of it coming from hydrogen businesses.
The government also plans to launch a service on the information about regulations regarding the sector to help their smooth push for new projects, and to hold various seminars regarding overseas businesses and technology exchanges with institutions and other entities, the ministry added.
(Yonhap)
