SEOUL, April 8 (Korea Bizwire) – South Korea’s science ministry said Thursday it will spend 25.3 billion won (US$22.6 million) over six years to acquire core hydrogen-related technologies as the country seeks to boost its hydrogen industry.
The ministry said it will commit 3.3 billion won this year and aims to develop promising hydrogen production and storage technologies, which are currently at an early stage in South Korea.
Under the plan, the country aims to acquire technologies, such as photoelectrochemical water splitting, which can produce hydrogen by using sunlight and a specialized semiconductor.
It also aims to develop methods to store high-density hydrogen that can travel long distances.
South Korea has committed big to developing its hydrogen industry, with the country’s five major conglomerates — SK, Hyundai Motor, POSCO, Hanwha and Hyosung — promising last month to invest 43 trillion won in hydrogen-related infrastructure by 2030.