Ministry of Industry Launches 'Hydrogen Economy Working Committee' to Support Hydrogen Economy

[Sejong=Asia Economy Reporter Haeyoung Kwon] The government launched a subordinate working committee under the Hydrogen Economy Committee directly under the Prime Minister, which was established in July last year, and held its first meeting on the 28th.

The newly launched working committee is based on the "Act on the Promotion of Hydrogen Economy and Hydrogen Safety Management." With the enforcement of the Hydrogen Act and the launch of the Hydrogen Bureau within the Ministry of Trade, Industry and Energy, it will support the preliminary review and discovery of agenda items for the operation of the Hydrogen Economy Committee. Seven specialized subcommittees will be established under the working committee, and members will participate in each subcommittee to develop more specific policy proposals in areas such as production, storage and transportation, mobility, power generation, industry, regions, and public participation and safety.

So far, the Hydrogen Economy Committee has held three meetings to establish hydrogen economy policies including hydrogen vehicles, charging stations, fuel cells, hydrogen cities, research and development (R&D), and dedicated institutions, contributing to the formation of momentum in the early stages of the hydrogen economy. In particular, with the recent carbon neutrality goal for 2050 and the upward revision of the 2030 Nationally Determined Contribution (NDC), the role of the hydrogen economy is growing. The production and utilization of clean hydrogen are increasing, and the need to secure storage and transportation technologies such as liquefied and liquid hydrogen is also rising.

The Ministry of Trade, Industry and Energy plans to ensure the solid operation of the Hydrogen Economy Committee and firmly support the hydrogen economy by organizing and operating the Hydrogen Economy Working Committee and specialized subcommittee members. A total of 11 members will participate in the Hydrogen Economy Working Committee, including Park Ki-young, the 2nd Vice Minister of the Ministry of Trade, Industry and Energy as chairman, Professor Moon Il of Yonsei University from academia and research, Jeong Ji-ho, Vice President of Shinhan Bank from the economic sector, and Kim So-hee, Secretary General of the Climate Change Center from civic organizations.

Vice Minister Park Ki-young stated, "In the current situation where policy conditions such as carbon neutrality are changing, the launch of the hydrogen companies council will be a turning point where the private sector's leading role in hydrogen economy implementation is strengthened," and added, "I expect the working committee to play a significant role."

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