Chungnam and Ulsan are competing to be Korea’s hydrogen hotspot

As the hydrogen-fueled vehicle is emerging as the future growth engine, local governments are competing intensely to preempt it. In particular, as Chungeongnam-do Province and Ulsan are trying hard to develop the hydrogen-fueled vehicle as the representative industry and growth engine of the region, they are drawing a great deal of attention.

Chungeongnam-do Province established the ‘plan for commercialization of the fuel cell electric vehicle (FCEV) and development of the industrial infrastructure’ at the end of last October, and submitted an application for a preliminary feasibility study to the Ministry of Commerce, Industry & Energy. It is the second such plan since last May. In this new plan the province said that it would invest a total of KRW232.4 billion (230 million USD), i.e. KRW155 billion (150 million USD) from the government, KRW46.6 billion from the province and KRW30.8 billion from the private sector, to become a Mecca of the hydrogen-fueled vehicle.

Ulsan, possessed of a good infrastructure for the hydrogen-fueled vehicle, is also showing a strong affection for the hydrogen-fueled vehicle industry and committed to fostering this industry. Ulsan has invested a total of KRW12 billion (12 million USD) (KRW3.7 billion from the government, KRW1.4 billion from the municipal government and KRW6.9 billion from the private sector) from 2009 till 2014, and has been conducting the ‘Ulsan hydrogen-fueled vehicle commercialization project.’ So it has a very good infrastructure for the hydrogen-fueled vehicle.

For full article, see Korea IT News.