In January 2019, Korea announced its Hydrogen Economy Roadmap, based on an agreement of the Ministry of Trade, Industry and Energy (MOTIE), Ministry of Economy and Finance (MOEF), Ministry of Science, Technology and ICT (MSIT), Ministry of Environment (MOE), Ministry of Land, Infrastructure and Trade (MOLIT) and Ministry of Oceans and Fisheries (MOF).
The goal of Korean government is to foster an increase in the number of hydrogen powered cars from 2,000 in 2018, 4,000 in 2019 to 6.2 million by 2040 and make the country the No. 1 producer of hydrogen powered cars and fuel cells globally by 2030.
The government will also promote the manufacturing of fuel cells or power generation to reach a combined capacity of 15 gigawatts by 2040. Also, it will look to supply a combined 2.1 gigawatts of fuel cell capacity to homes and buildings by 2040. This will provide enough power for 940,000 households.
