Seoul [South Korea], November 29 (ANI/Global Economic): The South Korean government will supply 27.9 million tons of hydrogen annually as 100 per cent clean hydrogen by 2050. It is expected to generate an economic effect of 1,319 trillion won and reduce more than 200 million tons of greenhouse gas.
The government announced on November 26 that five agendas, including the '1st Basic Hydrogen Economy Implement Plan,' were discussed at the 4th Hydrogen Economic Committee meeting presided over by Prime Minister Kim Boo-gyeom at Lotte Hotel Seoul.
The hydrogen economy implement plan is the first legal plan related to hydrogen industry. Under the plan, the government will promote 15 tasks based on four major implementation strategies: leading domestic and global clean hydrogen production, establishing optimized infrastructure, utilizing hydrogen in daily lives, and strengthening the hydrogen ecosystem.
Through this, it is planning to supply 27.9 million tons of hydrogen per year as 100 per cent clean hydrogen (green/blue hydrogen), and increase self-sufficiency rate to more than 60per cent by introducing foreign clean hydrogen produced by Korean technology and investment as well as expanding domestic production.
According to the main implementation plans, the government is planning to convert hydrogen production into the 'clean hydrogen supply system.' Through the demonstration of water electrolysis hydrogen production connected with renewable energy, it will build a large-scale production base for green hydrogen and reduce production costs.
In addition, the government is aiming to produce 750,000 tons of carbon dioxide-free clean blue hydrogen by 2030 and 2 million tons by 2050 by securing more than 900 million tons of carbon storage by 2030 in line with the commercialization schedule of carbon capture and storage (CCS) technology such as Donghae gas field site demonstration.
It will also promote global renewable energy-hydrogen production projects using domestic capital and technology to secure more than 40 hydrogen supply chains by 2050.
For stable hydrogen supply and demand, it will set up stockpile warehouses and international hydrogen exchanges. In addition, it will establish an international clean hydrogen certification and origin verification system by collaborating with hydrogen producing countries.
It will also build hydrogen ports near LNG and coal-fired power plants and industrial complexes to secure infrastructure. The government is planning to convert ships, vehicles, and equipment in ports into hydrogen-based, by offering incentives such as port facility usage fees and rent reduction.
It will built hydrogen pipelines around major bases for production and introduction, and consider using existing natural gas networks.
More than 2,000 hydrogen charging stations will also be secured by 2050. The government will expand convergence hydrogen charging stations at gas stations and LPG charging stations.
Hydrogen power generation such as ammonia mixed-source power generation and LNG hydrogen mixed-source power generation will also be commercialized to promote hydrogen utilization in all daily lives. The plan is to support this by introducing a mandatory clean hydrogen power generation system (CHPS) and strengthening environmental power supply.
It will also significantly improve the production capacity of hydrogen vehicles. By improving performance to the level of internal-combustion engine vehicles, it will expand the use of hydrogen to various mobility services such as ships, drones, and trams.
The government will also encourage the use of hydrogen fuel in the industrial sector, mainly at industrial complexes. It is planning to gradually replace fuel and materials with hydrogen-based processes for industries with high greenhouse gas emissions such as such as steel, petrochemical, and cement companies.
Each ministry will expand the scope of hydrogen technology development and also conduct integrated demonstrations. It is also planning to strengthen corporate cooperation between domestic and foreign companies by launching the 'Global Hydrogen Association' to preemptively establish safety standards and obtain global standards.
Through these plans, the government predicts that hydrogen will account for 33 per cent of energy consumption and 23.8 per cent of power generation by 2050. It means that hydrogen will surpass the proportion of oil use (49.3 per cent) and become the largest energy source by 2050.
The government also expected that this plan will create economic effects of 1,319 trillion won and 567,000 jobs, and reduce greenhouse gases by more than 200 million tons. (ANI/Global Economic)