Hydrogen production alone reached a market share of nearly US$1 billion in Korea last year, fuel cells nearly US$1.6 billion and hydrogen-powered cars up to US$3.7 billion. Given the growing interest in this cleaner energy carrier, this share is also expected to grow.The current focus in Korea is on increasing the efficiency of the water electrolysis system for the affordable production of 'renewable hydrogen'. Such hydrogen is produced by electrolyzers by splitting water and the energy required is entirely covered by renewable sources. Also in demand are the hydrogen pipelines for cheaper and direct transport, affordable steel production through direct reduction of iron ore by hydrogen and the development of liquid hydrogen infrastructure. Last but not least, the attention is also paid to the development of hydrogen mobility of all types. The Korean market is certainly not simple. Companies are faced with meeting Korea's stringent safety regulations and standards when they enter, with the Korea Gas Safety Corporation being the main authority. They may also have difficulty obtaining good information about the local market and aligning their practices with the Korean Hydrogen Act. Last but not least, the lack of government incentives for foreign companies and lengthy administrative procedures can be a complication.

Aming to highlight the importance of the hydrogen industry as a future growth engine, the H2 MEET fair specifically focused on water electrolysis, transport safety and hydrogen stations. It also devoted space to hydrogen mobility and fuel cells. Particular attention this year was paid to the issue of capturing and storing CO2 that can be produced when hydrogen is produced from fossil fuels. This is the process of capturing this waste gas and storing it safely so that it is not released into the atmosphere, thereby mitigating harmful emissions.

The event also included a number of conference activities where scientists, policy makers and entrepreneurs discussed policy settings for this segment and shared their visions for the future. "We welcomed 303 business entities and government organisations from 18 countries," said Young Park from the organising team. "Although the Czech Republic is not represented this year, we would like to welcome it in the future," he added.

Further important information on this sector of the Korean market can be obtained from the links below:

1. H2KOREA: http://eng.h2korea.or.kr/

2. Ministry of Transport, Industry and Energy Youtube Channel: https://youtu.be/qwPh538wSOc?si=NL1I0wG9p8fm1fTG

3. IEA Korea Hydrogen Economy Roadmap 2040: https://www.iea.org/policies/6566-korea-hydrogen-economy-roadmap-2040

If interested, Czech companies can contact the Commercial Department of the Czech Embassy in Seoul at: commerce_seoul@mzv.cz.

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_{^{Jakub Kopecký, head of the economic section of the Embassy of the Czech Republic in Seoul}}