The Economic Characteristics of the Hydrogen Industry

Korea lacks an abundance of natural resources, and has not traditionally been recognized as a major player in the energy industry. Accordingly, Korean energy policy has focused on the national power generation mix, rather than on industrial development. This trend has continued until very recently; only now is there growing momentum for expanding the proportion of renewable energy in the energy mix. However, there is an increasing need to cultivate new and renewable energy industries such as hydrogen, wind power, and solar power individually. We see this manifest in the new organizational re-composition of government ministries. To enhance the competitiveness of the domestic hydrogen industry during the transition to a hydrogen economy, it is essential to implement successful industrial policies. The purpose of this study is to examine the development of Korean hydrogen industry from an industrial research prospective. Specifically, the works outlines a strategy for fostering the hydrogen industry to facilitate a quick transition to a hydrogen economy.