Hydrogen economy lives on, at least at the H2 MEET 2022

Industry

Published: 31 Aug. 2022, 19:05 Updated: 31 Aug. 2022, 19:52

Hydrogen economy lives on, at least at the H2 MEET 2022

Prime Minister Han Duck-soo speaks during the opening ceremony of the H2 MEET 2022 exhibition on Wednesday at Kintex in Goyang, Gyeonggi. [NEWS1]

Korea will produce clean hydrogen with nuclear power, the prime minister said at the country’s largest hydrogen expo Wednesday.

“The government will run a demonstration project for large-scale green hydrogen production to boost generation capacity, while diversifying the production method,” Prime Minister Han Duck-soo promised during the opening ceremony for the H2 MEET 2022 exhibition event Wednesday at Kintex in Goyang, Gyeonggi.

“Generating hydrogen with the electricity produced at nuclear power plants” was suggested as one of the possible production methods by the prime minister.

Hydrogen produced through water electrolysis using electricity generated by nuclear power is called pink hydrogen. Green hydrogen is produced through the use of solar and wind power.

The Yoon Suk-yeol administration is set to hold its first Hydrogen Economy Committee meeting in September and release its vision and plan for the hydrogen sector.

Whether the Yoon government will continue with the former administration's active push for a hydrogen economy has been uncertain, as next year's subsidy budget for fuel cell vehicles has been reduced to 360 billion won ($268 million), down by some 260 billion won from this year.

The prime minister promised to "establish a hydrogen economy ecosystem encompassing all stages from production to distribution and utilization," emphasizing that the government will “foster the hydrogen industry as the world-leading ‘super-gap’ business."

The H2 MEET 2022, the largest hydrogen exhibition in Korea, kicked off Wednesday with 241 exhibitors from 16 countries. Previously named the Hydrogen Mobility+ Show, the event is in its third year.

The exhibition space measures 19,801 square meters (213,136 square feet), 42 percent larger than last year.

Hyundai Motor CEO Chang Jae-hoon attended the Wednesday event as well.

Chang said a new hydrogen-powered Nexo is currently under development, as questions have been rising over whether the new Nexo model would be able to be released as planned.

“The research center is doing its best, so I believe that we will be able to soon meet the market’s expectation with a good product,” said Chang.

Hyundai Motor hopes to introduce the new Nexo model and the third-generation fuel cell, which the company says will cost 50 percent less than the current product, next year.

Major companies including Hyundai, Posco, SK and Doosan showcased their hydrogen technologies and products at the exhibition.

Hyundai Motor displayed its hydrogen fuel cell-powered bus, trucks, and drone at its exhibition zone. The carmaker’s fuel cell-powered trucks — a garbage compactor and a water spray truck — will be sold starting next year, according to the carmaker. Hyundai Motor’s hydrogen drone, which was first introduced in May, was also exhibited.

Hyundai Motor's hydrogen-powered drone is displayed at the H2 MEET 2022 exhibition on Wednesday at Kintex in Goyang, Gyeonggi. [HYUNDAI MOTOR]

Hyundai Steel marketed its “Hy-Cube” hydrogen steel production system at Hyundai’s exhibition zone, while Hyundai Mobis introduced M.Vision Tug, a tug car equipped with a fuel cell power pack, for the first time.

Six Posco companies including Posco, a steelmaker, Posco International, a trading and energy company, and Posco E&C, a construction company, participated in the event as well.

The companies displayed the hydrogen production system and hydrogen-based steelmaking technologies. Posco aims to produce 7 million tons of hydrogen a year by 2050.

SK E&S, a natural gas company, exhibited its water electrolysis facility for hydrogen production and a mockup of an eco-friendly warehouse that uses hydrogen-powered forklifts.

The company set up a joint venture named SK Plug Hyverse with Plug Power, a Latham, New York-based hydrogen fuel cell company in January. Plug Power’s hydrogen fuel cells for vehicles and hydrogen chargers were also presented at the event.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]