A total of 317.7 billion won will be invested over five years starting in 2024, including 43.9 billion won in state funding.
Promoting the localization of key materials and components related to liquid hydrogen storage and transportation

The 'Gangwon Hydrogen Storage and Transportation Cluster' construction project is being launched in earnest with the goal of securing Gangwon's position as a global leader in hydrogen and completing the supply chain for the future hydrogen economy by verifying hydrogen storage and transportation technologies and promoting their commercialization.

The Ministry of Trade, Industry and Energy (Minister Bang Moon-kyu) announced on the 6th that the 'Gangwon Hydrogen Storage and Transportation Cluster' construction project passed the preliminary feasibility study at the Financial Project Evaluation Committee (Chairperson: Vice Minister of Economy and Finance) held on Wednesday, the 6th.

For the realization of a hydrogen economy, synergistic growth in the fields of hydrogen production, storage/transport, and utilization is crucial; consequently, it is necessary to expand hydrogen storage and transportation infrastructure (hydrogen containers, valves, pumps, pipelines, etc.) and foster related industries to facilitate the wider adoption of hydrogen vehicles.

To this end, starting in 2024, over a five-year period with a total project cost of 317.7 billion won, an industrial promotion center, a safety testing center, and a demonstration testbed for industrial promotion and technology verification will be established within the Donghae Bukpyeong Industrial Complex, and a hydrogen liquefaction plant utilizing the cold energy of the Samcheok LNG receiving terminal will be constructed.

It is expected to contribute to promoting the localization of key materials and components related to liquid hydrogen storage and transportation currently imported from overseas, and to internalizing the supply chain.

alsoIt is expected that the construction of a liquefied hydrogen plant (in Samcheok Hosan Industrial Complex) for the demonstration of liquid hydrogen equipment will also serve as a hub for supplying hydrogen for transportation in the Gangwon and Gyeongbuk regions in the future.

An official from the Ministry of Trade, Industry and Energy stated, “The passing of the preliminary feasibility study will lay the foundation for the development of the hydrogen storage and transportation industry, which serves as the arteries connecting hydrogen production and utilization in the hydrogen economy ecosystem,” adding, “We will continue to cooperate with local governments and participating companies to ensure the project is carried out without any setbacks.”

▲ Hydrogen Storage and Transportation Cluster Development Sector (Image Source: Ministry of Trade, Industry and Energy)