POST Online Media Lite Edition



 

South Korea aims to foster 1,000 hydrogen-related firms by 2040

Christian Fernsby |
South Korea said Wednesday it will foster 1,000 businesses in the hydrogen industry over the next 20 years in its latest push to nurture a hydrogen-based ecosystem and related economy.

Article continues below



Topics: SOUTH KOREA   

Under the goal, the country will help create at least 500 new firms in various hydrogen-related segments, including cars, battery cells and production by 2030, according to the Ministry of Trade, Industry and Energy.

The country will also raise funds worth 34 billion won ($28.3 million) to induce local businesses to set eyes on hydrogen as the new growth engine.

The hydrogen economy drive is one of the key projects sought after by the Moon Jae-in administration, which also has been pushing to slowly phase out from nuclear energy by retiring old reactors and refraining from building new ones.

Hydrogen is an environment friendly alternative to fossil fuels as automobiles running on the resource only create water in the process of generating power. It can be produced as a by-product of industrial facilities, including petrochemical plants as well.

To make hydrogen more accessible for local firms and consumers, South Korea plans to build five new production facilities in Busan, Daejeon and three other cities, which will utilize liquefied natural gas (LNG) to produce 7,400 tons of hydrogen annually.

South Korea plans to have an accumulated number of hydrogen cars running here reach 850,000 in 2030, rising sharply from around 7,000 in June.

The country plans to install 660 hydrogen charging stations by the year as well, a sharp rise from 40 recorded last month. This would allow all drivers to reach a charging station within 20 minutes in major cities.

South Korea plans to roll out subsidies for hydrogen-powered cargo trucks in 2021 as well to promote the use of environment-friendly vehicles in a wider scope of areas, which was previously limited to passenger transportation.


What to read next

Five thousand hydrogen stations to be deployed globally
Shanghai unveils mega hydrogen station
Grenoble home of Europe's largest hybrid electric-hydrogen fleet

Storm brings rain and snow to southwest U.S.; snow on higher elevations

 
A deep upper level low will drop into the western U.S. today, pushing a surface frontal system south across the region.
 
 

Latest

U.S. oil and gas rig count falls to 576
Georgia Governor Kemp to reinforce economic partnerships in Germany and Poland
Kansas Governor announces $25M for Stafford County Transload Facility Project
Port Houston awarded $25 million to build hydrogen fuelling station

NEWS

Arctic air spreads south and east from Rockies Friday through next week

Bulgaria: 4 charged with €94.5 million fraud involving railway signalling systems
Winter storm to impact south and southeast U.S.
Azerbaijan suspends gas supplies to Bulgaria for technical reasons
UK phasing out sale of new petrol and diesel cars from 2030
Anchor linked to Eagle S recovered in Finland-Estonia cable damage probe
 

BUSINESS

Ukraine planning to resume port concessions in 2025

EIB and Societe Generale to stimulate up to €8 billion investment in wind industry
U.S. drillers cut oil and gas rigs
U.S. rig count dropped, Canada nice surprise
Massachusetts wins more than $102 million for transportation infrastructure projects
Baker Hughes oil rig count unchanged at 589, Canadian down
 

Trending Now

U.S. oil and gas rig count falls to 576

Los Angeles wildfires: Governor announces $20 million to support firestorm-impacted workers

Georgia Governor Kemp to reinforce economic partnerships in Germany and Poland

Rolls-Royce signs landmark £9 billion Unity contract with UK Ministry of Defence


POLITICS

BOEM approves construction and operations plan for SouthCoast Wind Project

Thailand signs trade deal with European nations
Mexico and EU update trade deal to counter potential U.S. tariffs under Trump administration
Trump announces plans for 10% tariff on China starting on February 1
Los Angeles wildfires: Governor announces $20 million to support firestorm-impacted workers
Historic $8 billion transportation investment to improve roads, bridges and regional transit in Massachusetts
 

Today We Recommend

Raiffeisen Bank faces €2 billion fine in Russia


Highlights 

Rolls-Royce signs landmark £9 billion Unity contract with UK Ministry of Defence

Amazon to close all Québec facilities

Los Angeles wildfires: Governor announces $20 million to support firestorm-impacted workers


COMPANIES

Rolls-Royce signs landmark £9 billion Unity contract with UK Ministry of Defence

Amazon to close all Québec facilities
Raiffeisen Bank faces €2 billion fine in Russia
Reach Subsea confirms delivery of Reach Remote 1
Corning to create 300+ jobs in North Country, New York
Lufthansa Group plans around 10,000 new hires across entire company in 2025
 

CAREERS

Keith Hale named group CEO to Unite Titian Software & Labguru (BioData)

Solithor appoints new CEO
McWin appoints Guillaume Charlin as managing partner
PrecisionLife: Bill Keating new chief commercial officer, diagnostics and healthcare
Mika Mahlberg becomes Fortaco’s president, CEO and member of board
Medicilon names Lilly Xu as chief technology officer
 

ECONOMY

Indonesia goes from $0.6 billion deficit to $5.9 billion surplus

Greece to repay $5.3 billion bailout debt early
Fraser Institute: Canada’s debt ranking falls from best in G7 to 7th worst
Kuwait reports $5.2 bln budget deficit in FY 2023-24
Eurozone reports modest Q1 GDP growth, stable annual inflation
Italy sees faster economic growth in Q1
 

EARNINGS

Ericsson Q2 sales down but North America up

Lockton revenue $3.55 billion
Motorcar Parts of America Q4 sales $189.5 million
Limoneira Q2 revenue $44.6 million
Lululemon athletica Q1 revenue increased 10% to $2.2 billion
PVH Q1 GAAP EBIT $205 million
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Hong Kong suspends of poultry meat and products from areas in U.S.

Indonesia aims for food self-sufficiency in rice, corn, salt by 2026
Vietnam opens Brazilian market for salted cattle hides
Germany reports first foot and mouth disease outbreak in 35 years
UK exported enough banned bee-killing pesticides to cover area bigger than England
Hong Kong suspends import of poultry meat and products from areas in Hungary, Portugal, Korea
 

LEADERSHIP

Study: Missing a deadline has a bigger impact than you might think

Employers prefer younger job candidates for AI roles although experienced workers perform same or better
Study finds workers misjudge wage markets
Some organizations may need to expand their hierarchical structures earlier than others
Study finds there's right way and wrong way to deliver negative feedback in workplace
Allyship is critical and its needs appreciation
 

CRIME

Commission fines Pierre Cardin and its licensee Ahlers €5.7 million for restricting cross-border sales of clothing

BHP, Vale agree to pay $30B damages for Brazil dam disaster
Commission fines České dráhy and Österreichische Bundesbahnen €48.7 million over collusion to exclude common compe
SEC charges Keurig with making inaccurate statements regarding recyclability of K-Cup beverage pod
SEC charges John Deere with FCPA violations for subsidiary’s role in Thai bribery scheme
AG Bonta secures $3.9 million settlement with cryptocurrency company Robinhood
 

Magazine

TRAVEL

Radisson Hotel Group debuts in the heart of Tunisia’s capital city, Tunis

Morocco’s first Radisson branded hotel opens in Casablanca
Buna channels, an unreal and beautiful part of Bosnia and Herzegovina
JW Marriott unveils Mindful Haven with opening of JW Marriott Hotel Nairobi
Sotheby's Sports Week returns with fantastic artifacts
Red Roof properties open in Michigan
 

SEA, LAND, AIR

Citroën C3 Aircross, the most affordable compact SUV with 7 seats

2025 Chevrolet Equinox stands apart with fresh looks and capability
Hill Helicopters HX50, luxury in the sky
Opel Movano becomes fully equipped camper van
Porsche Panamera, new hybrid variants
Dodge Charger, 670 horsepower of electric
 

DESIGN

Cold night, hot fire pit, cool entertainment

Embellish your home with PVC panels
You'll have to hurry if you want one of 20 new Louis Vuitton watches
Luxury duvet looks good, fells good and keeps you healthy
Vacheron Constantin, watches for life and more
Schüller kitchens, where functionality marries design
 

GADGETS

MESA/Boogie Celebrates 40-year partnership with John Petrucci

reMarkable 2, monochrome tablet for your thoughts and your eyes
OnePlus Ace 3V, first with Snapdragon 7 Plus Gen 3
ASUS Zenfone 11 Ultra, flagship with a reason
Samsung Galaxy S24 is photography powerhouse
Casette tapes are making a big comeback, and so are portable players
 

HEALTH

Human cases of anthrax reported in western Mongolia

One more barrier to developing vaccine for HIV removed
Rwanda begins world's first clinical trial for treatment of Marburg virus disease
Rwanda restricts gatherings amid Marburg virus outbreak, to begin trials of vaccine
Teksas Attorney General reaches settlement in first-of-its-kind healthcare generative AI investigation
Potentially deadly fungal disease spreading in California
 

MEANTIME

India launches space docking experiment mission

World-first carbon-14 diamond battery made
Einstein Telescope step closer
Exoplanet-hunting telescope to begin search for another Earth in 2026
India to build first phase of its own space station by 2028
Roscosmos chief approves schedule of creating Russian orbital station through 2033