Earlier this month, Korea hosted the world’s inaugural hydrogen mobility exhibition, the H2 Mobility+Energy Show, in Ulsan. Over 100 companies and research institutions from 11 countries participated in the event, which showcased hydrogen fuel cells and hydrogen and electric mobility technologies. The opening ceremony was attended by Korean Prime Minister, Chung Sye-kyun, who is chairing the government’s new Hydrogen Economy Committee.
Green transportation is a key pillar of Korea’s transition to a low emissions economy. The government will invest ₩2.2 trillion (A$2.6 billion) to further promote the development of green vehicles, such as passenger cars and trucks, autonomous driving technologies and necessary infrastructure including charging stations. They hope the private sector will invest an additional ₩60 billion (A$70 million) to help expand the sector. These investments will accelerate Korea’s already extensive research, manufacturing and construction work in the future mobility space and support the country’s aim to capture 10% of the global electric and hydrogen vehicle market by 2030.
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