South Korea funds $5.9m in hydrogen refuelling subsidies

The South Korean government has set aside up to 8.2 billion won ($5.9 million) in subsidies for 152 hydrogen refueling stations across the country. Starting from May 1, each station will receive an average of 54 million won ($38,947) to encourage private involvement in the hydrogen refueling sector, assist with fuel purchase expenses, and enhance operational conditions.

Funding for the subsidies has been provided by the Korean Ministry of Environment, with the Korea Automobile Environment Association managing the subsidy program. Businesses seeking support for hydrogen fuel purchase costs have been identified by the Association.

Introduced in 2021, this program aims to ensure the stable functioning of hydrogen refueling stations and drive economic progress. Subsidies are distributed twice a year to private operators who meet the eligibility criteria after a thorough review of their financial records from the previous six months.

Jeong Seon-hwa, the Director of Air Quality Policy at the Ministry of Environment, stated that the government is committed to providing extensive support to stabilize the hydrogen vehicle ecosystem, including refueling stations. It is hoped that the fuel purchase subsidies allocated for the first half of the year will enhance the operational efficiency of hydrogen refueling stations.

In line with South Korea's updated hydrogen policies announced in 2022, the country plans to manufacture 30,000 hydrogen-powered commercial vehicles by 2030 and establish 70 liquid hydrogen refueling stations. The goal is to ensure that hydrogen accounts for 7.1% of the nation's energy mix by 2036.