Moon touts fuel cell ambitions . . .
South Korea’s president Moon Jae-in took a ride today on the country’s first hydrogen-powered bus in the city of Changwon. The ride symbolizes South Korea’s pivot to fuel-cell electric vehicles (FCEV). Changwon, which has been selected as a ‘regulatory sandbox’ for testing of FCEVs, will start commercial operations of its hydrogen-powered city buses tomorrow. Changwon is the first of the six Korean cities that will start running hydrogen buses by the end of 2019.
South Korea’s vision for a ‘hydrogen economy’ . . .
In April, the Moon administration announced non-memory chips, bio-health, and hydrogen vehicles as sectors for strategic development. The goal is to become a global leader in both FCEV and the batteries market by 2030, and to increase the number of FCEVs in operation in South Korea from the current 4,000 to 1.8 million by 2030. The Moon administration also sees FCEVs as a vital tool to help reduce emissions as the country battles increasingly poor air quality.
Potential for Canadian industry . . .
Canada’s hydrogen and fuel cell industry is globally recognized for its technological and production expertise. According to a 2017 survey, sales to South Korea (which is Canada’s only bilateral free trade partner in Asia) only accounted for one per cent of the revenue for hydrogen and fuel cell exporters, while China accounted for 40 per cent. In light of the uncertainties stemming from the U.S.-China trade war, Seoul’s ambitious new hydrogen strategy presents exciting market diversification opportunities for the Canadian hydrogen and fuel cell industry.
READ MORE
- Canadian Hydrogen and Fuel Cell Association: Canadian hydrogen and fuel cell sector profile
- The Diplomat: South Korea’s hydrogen economy ambitions
- The Korea Herald: Moon joins test drive of Korea’s first hydrogen-powered city bus
