Government to Provide Close Support for Hydrogen Investment Companies... Fostering 1,000 Hydrogen Companies by 2040

[Sejong=Asia Economy Reporter Kwon Haeyoung] The government is establishing a Hydrogen Innovation Desk to provide close support to 'hydrogen investment companies.' Through this, it plans to nurture more than 1,000 hydrogen-specialized companies by 2040.

The Ministry of Trade, Industry and Energy held a plaque ceremony for the 'Hydrogen Innovation Desk' on the 12th at the headquarters of the Hydrogen Convergence Alliance Promotion Group.

At the 3rd Hydrogen Economy Committee held by the government on the 2nd, companies such as SK and Hyundai Motor Group announced hydrogen economy investment plans totaling 43 trillion won. Small and medium-sized enterprises and mid-sized companies are also planning investments exceeding 1 trillion won, focusing on specialized fields. Accordingly, the government is establishing the Hydrogen Innovation Desk within the hydrogen industry promotion agency to support investment plans and nurture and assist hydrogen-specialized companies.

First, a dedicated team for investment project support will be formed to provide rapid and close support throughout the entire process from initial planning to completion. The team will continuously collect companies' difficulties and carry out regulatory reforms, establishment of systems such as standards and certifications, and support for local government permits and approvals. A hydrogen-specialized company technology and management support group will also be formed to provide consulting on technology and management, promote innovation capabilities of specialized companies through market development, and match specialized technical personnel.

An official from the Ministry of Trade, Industry and Energy stated, "We will support the major projects of companies that have made bold investments to lead to concrete outcomes," adding, "With the launch of the Hydrogen Innovation Desk, large-scale private investments will proceed stably, which will expand the hydrogen market and establish a virtuous cycle structure for additional investments."

This content was produced with the assistance of AI translation services.