Finance Minister vows support for hydrogen technology development

Finance Minister and Deputy Prime Minister Kim Dong-yeon said Friday that the government would support companies developing technologies to realize a hydrogen economy.

In a meeting with local developers of hydrogen technology, Kim said the government would step up efforts to build hydrogen production facilities and develop related technologies such as hydrogen storage and transport.

Finance Minister and Deputy Prime Minister Kim Dong-yeon (Yonhap)

On a pending bill on the hydrogen economy, Kim said, however, he would listen to the voices of the related industry first and go through consultations with lawmakers in the process of legislation.

“(The bill) contains many support measures but also legislation itself becomes a new regulation,” he said.

South Korea has no control tower for its hydrogen economy, with four ministries -- Energy, Transport, Environment and Finance Ministry -- all having partial responsibility

By Cho Chung-un (christory@heraldcorp.com)