- Korea participates in U.S. HFCS & cohosts hydrogen roundtable 2023-02-10
The Ministry of Trade, Industry and Energy (MOTIE) participated in the Hydrogen & Fuel Cell Seminar (HFCS) in California on February 7-9 and held a public-private joint roadshow for entering the U.S. hydrogen market.
Organized by the U.S.’ Fuel Cell and Hydrogen Energy Association (FCHEA), HFCS is North America’s largest hydrogen event with over 40 years of history, offering a business exchange venue of opportunities for at least 70 companies and institutions to come together to discuss hydrogen-related global issues and push company promotions through seminars and exhibitions.
Korea participated as host country for the first time, giving briefing sessions on investing in Korea’s hydrogen industry and exhibiting hydrogen products like hydrogen trucks and cohosting the Korea-U.S. Hydrogen Roundtable to create business cooperation opportunities, followed by a Q&A session concerning the U.S.’ Inflation Reduction Act (IRA).
Hydrogen market growth is expected to kick into high gear as the U.S. has proposed the aim to produce one kilogram of clean hydrogen with one U.S. dollar within the next decade and will be providing extensive support via the Inflation Reduction Act (IRA) and Bipartisan Infrastructure Law (BIL).
It is anticipated that Korean companies will be able to enjoy a wide range of export opportunities from the hydrogen market expansion with regard to hydrogen vehicles and fuel cells. One instance is the recent selection of a Hyundai Motor hydrogen truck model for an eco-friendly vehicle project in the U.S. Korean companies are also looking forward to advancing their export competitiveness through strategic partnerships with U.S. global hydrogen companies.
With an exclusive pavilion for promotion, presentation and the Korea-U.S. hydrogen roundtable, Korea’s first participation in HFCS as host country has secured significant new opportunities. The roundtable was organized by MOTIE and H2KOREA with the U.S. Department of Commerce, U.S. Department of Energy and other relevant associations.
During the seminar, MOTIE presented Korea’s hydrogen policy achievements and its goal to take the lead in creating more success cases for the global expansion of hydrogen economy.
MOTIE noted that Korea is the world’s largest supplier of hydrogen vehicles and fuel cells, and the fastest in terms of distributing charging stations. Moreover, its cutting-edge technology and supply capacity are serving as a strong foundation for exporting automobile and power generation fuel cells.
By this year, Korea plans to establish the world’s biggest liquefied hydrogen plant to produce a large number of commercial hydrogen cars, and also build a power generation ecosystem by launching the hydrogen power generation bid market. Joint efforts will be made by the Government and companies to keep developing the hydrogen economy.