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The Hydrogen Industry in Korea Today and Measures to Enhance its Competitiveness

Author

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  • Lee, Sul-Ki

    (Korea Institute for Industrial Economics and Trade)

Abstract

South Korea's active hydrogen industry policy has fueled significant growth, with the number of firms increasing 56 percent by 2021 and industry-wide revenue rising 474 percent. Participation by large corporations led to this rapid expansion, but our analysis identifies further key steps: 1) developing and localizing core materials and technologies to transform the industry into a new growth engine, and 2) incentivizing small and medium enterprises to participate, sustaining the momentum. This study proposes two key policy actions to strengthen the position of the Korean hydrogen industry: 1) foster targeted demand, particularly in the mobility sector, and 2) bolster the supply chains of core materials for hydrolysis and fuel cells.

Suggested Citation

  • Lee, Sul-Ki, 2023. "The Hydrogen Industry in Korea Today and Measures to Enhance its Competitiveness," Research Papers 23/22, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietrp:2023_022
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    More about this item

    Keywords

    hydrogen; hydrogen energy; alternative energy; renewable energy; green hydrogen; hydrogen policy; hydrogen industry; hydrogen fuel cells; transportation industry; hydrogen supply chains; Korea; KIET;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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