Jeju Island Initiates South Korea’s First Commercial Green Hydrogen Sales

JEJU, Oct. 30 (Korea Bizwire) – On October 30, Jeju Island announced it would launch South Korea’s first commercial sales of green hydrogen at the Hamdeok Green Hydrogen Station, located in Hamdeok-ri, Jocheon-eup, Jeju City, starting December 1. The fuel will be accessible to hydrogen-powered cars and buses.

Green hydrogen, created by water electrolysis powered by renewable energy, is recognized as a clean energy source since its production is carbon-free.

The retail price is set at 15,000 won ($ 10,87) per kilogram (including VAT). With fuel efficiency considered, green hydrogen costs around 679 won per kilometer—higher than diesel (642 won) and electricity (316 won). The Jeju Hydrogen Economy Committee set this price based on production and distribution costs. While currently priced higher than fossil fuels, the committee anticipates that market expansion and advances in technology will help reduce both production and consumer costs over time.

Currently, Jeju Island has registered 58 hydrogen vehicles, including 12 buses, one cleaning vehicle, and 45 passenger cars (10 government-owned and 35 privately owned), with plans to increase this number to 450 vehicles by 2030.

Since last year, Jeju has been generating 600kg of green hydrogen daily at its Haengwon Green Hydrogen Production Base in Gujwa-eup, Jeju City, utilizing power from a nearby wind farm. This was South Korea’s first facility dedicated to green hydrogen production.