Liquid Hydrogen Plant and Cosmetic Refill Stores to Open... 'Carbon Neutrality' via Regulatory Sandbox

Approval of 25 Demonstration Special Cases Including 15 for Carbon Neutrality Realization

[Sejong=Asia Economy Reporter Kwon Haeyoung] Korea's first liquefied hydrogen plant and charging station will be established, and it will become possible to produce gasoline and plastic products by recycling waste plastics. A new way to refill and purchase cosmetics as much as desired at cosmetic stores will also open.

The Ministry of Trade, Industry and Energy held the '4th Industrial Convergence Regulatory Sandbox Committee of 2021' on the 15th and approved a total of 25 demonstration exceptions, including 15 projects that can achieve carbon neutrality.

First, liquefied hydrogen plant and charging station construction and operation, and liquefied hydrogen transportation projects applied for by Linde Hydrogen Energy, Hyosung Hydrogen, SK E&S, IGE, and HiChangwon were approved. Under current laws, there are no technical and safety standards for major liquefied hydrogen plant equipment, transport trailer containers, and charging stations, making it difficult to establish liquefied hydrogen facilities domestically unlike overseas where they are commercialized. The Regulatory Sandbox Committee approved the demonstration exception considering that liquefied hydrogen has a lower explosion risk compared to gaseous hydrogen and can store a large amount of hydrogen in a small volume, enabling efficient transportation.

The Regulatory Sandbox Committee stated, "Through this demonstration, investments worth at least 1 trillion won will be made in Ulsan, Incheon, and Changwon, and once Korea's first liquefied hydrogen facilities are established, it will contribute to revitalizing the regional economy and creating jobs."

Waste plastic pyrolysis oil raw material projects applied for by SK Geocentric, GS Caltex, and Hyundai Oilbank were also approved. This project purchases waste plastic pyrolysis oil from small and medium-sized companies, dilutes it with crude oil, and inputs it into petrochemical and refining processes to produce fuel oils such as naphtha, gasoline, and diesel necessary for plastic manufacturing. Once this project is in full swing, it is expected that by 2030, 900,000 tons of waste plastic pyrolysis oil will be recycled in an eco-friendly way.

Cosmetic refill stores without a licensed pharmacist applied for by Almang Store and Innisfree will also be promoted. These companies plan to install large-capacity cosmetic containers such as shampoo, rinse, and body cleanser in stores, allowing customers to directly refill and purchase the amount they need. Instead of having a licensed pharmacist, they will assign employees who have completed training from the Cosmetics Association to ensure customers can safely purchase cosmetics.

The Regulatory Sandbox Committee explained, "This will reduce 110 kg of plastic container waste per cosmetic refill store annually and help spread an eco-friendly consumption culture."

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