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South Korea needs stable hydrogen supply chain

S.Korean president Yoon Seok-yeol said, “We will build a stable hydrogen supply chain,” emphasizing innovation efforts to transform into the hydrogen industry.

“The government will expand investment in technology development to reduce carbon emissions and secure a foundation for hydrogen production at home and abroad,” President Yoon said at the 28th World Gas General Assembly held in EXCO, Daegu, on the 24th.

The World Gas Congress is the largest gas-related international conference held every three years by the International Gas Federation, and is also called the Olympics of the global gas industry, with a large number of key figures from related industries attending.

“This is the third event in Asia since it was first held in the U.K. in 1931,” President Yoon said. “The Republic of Korea has achieved rapid growth and leap in a short period of time, with no origins in world history.” Stable energy supply has been a major driver of this kind of power generation.”

“We have grown into a key country leading the global gas industry, ranking third in global LNG (liquefied natural gas) imports, second in LNG storage capacity, and first in winning orders for LNG ships,” he said. “It would not be an exaggeration to say that our sustainable growth and future depend on energy policies.”

“As a global leader country, Korea will fulfill its responsibility and role in the international community’s efforts to achieve carbon neutrality,” he said adding, “To that end, we need to rationally mix nuclear power, renewable energy and natural gas.” President Yoon said, “Natural gas not only has the lowest emissions of greenhouse gases and fine dust among fossil fuels, but also plays an important role in meeting increased global demand and reducing energy poverty,” adding,

“However, with a longer-term perspective, we need to make changes and innovations to drastically reduce carbon generation or transform it into a hydrogen industry.” “The government will expand investment in technology development to reduce carbon emissions and establish a stable hydrogen supply chain by securing a base for domestic and foreign hydrogen production,” President Yoon stressed. It is also linked to energy security.

“The importance of energy security is growing due to growing uncertainties in the supply and demand of energy and raw materials,” President Yoon said, adding, “While expanding resource reserves due to diversification of import lines, the private sector should be at the center to boost the vitality of overseas investment and restore the industrial ecosystem related to overseas resource development.”

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