KOTRA Strengthens Hydrogen Industry Cooperation with Sweden

Published 05 Apr.2022 11:00(KST)

[Asia Economy Reporter Jin-ho Kim] KOTRA announced on the 5th that it will hold the 'Korea-Sweden Hydrogen Partnership' investment attraction online forum to promote the entry of Swedish global companies into Korea's hydrogen industry.

The event, held on the 6th, consists of a signing ceremony for a business agreement between the Sweden Hydrogen Association and the Korea Hydrogen Convergence Alliance (H2KOREA) → Korea-Sweden hydrogen industry policy seminar → Economic Free Zone Authority hydrogen industry investment environment explanation webinar → presentations by leading Swedish hydrogen companies.

KOTRA's Stockholm Trade Center played a bridging role connecting Sweden's Hydrogen Association, a leading country in carbon neutrality in the European Union, and Korea's dedicated hydrogen industry promotion agency, the Hydrogen Convergence Alliance. Through this, mutual cooperation in the hydrogen industry between Korea and Sweden is expected. According to EUROSTAT, as of 2019, Sweden's annual per capita carbon emissions were 5.2 tons, about 40% less than the EU average of 8.4 tons.

Ulsan City, recognized as a leading city in Korea's hydrogen industry, along with the Ulsan Economic Free Zone Authority and the Gwangyang Bay Area Free Economic Zone Authority, will participate to explore investment cooperation opportunities with Swedish companies. Three companies leading the global hydrogen industry trend beyond Sweden, including ABB (hydrogen production solutions) and H2 Green Steel (green steel technology), a world-renowned industrial automation company, will participate.

Additionally, domestic companies capable of technological cooperation with Swedish hydrogen companies will be identified, and one-on-one follow-up investment consultations will be conducted until the end of this month. Furthermore, in May, investor visits to Korea will be promoted, focusing on companies with high investment potential.

Lee Ki-seok, head of KOTRA's Stockholm Trade Center, stated, “Sweden is a renewable energy powerhouse possessing core technologies in green hydrogen production processes, charging infrastructure, and fuel cells,” and added, “We plan to actively support Swedish companies' investment entry into Korea through this event.”