South Korea Hydrogen Economy

South Korea’s ambitious hydrogen strategy—backed by $39 billion in investment and rapid infrastructure growth—creates strong opportunities for U.S. firms offering advanced hydrogen production, distribution, storage, and end-use technologies.

South Korea is positioning itself as a global hydrogen leader. Under its national Hydrogen Economy Roadmap, the government aims to produce over 5 million tons of hydrogen annually by 2040 and establish a fully developed hydrogen value chain—from production, to distribution, and to everyday use in transportation, power generation, and industry. The effort is backed by $39 billion in investment pledged by large Korean conglomerates and the Hydrogen Economy Promotion and Safety Act provides the policy, standards, and subsidies to support this effort.

Hydrogen has been officially recognized by the Korean government as a core future energy source and the country is taking a dual approach: expanding domestic hydrogen production—including from natural gas with carbon capture—while also developing import terminals to secure large-scale overseas supply. To achieve this strategy, Korea is expanding its network of hydrogen fueling stations, storage facilities, and pipelines.  As of early 2025, Korea currently operates approximately 400 hydrogen refueling stations, up from 250 in 2024, reflecting rapid infrastructure growth. Many of the technologies essential to this expansion come from international suppliers, creating opportunities for U.S. companies offering high-performance, scalable solutions.

One of the most visible parts of Korea’s hydrogen push is transportation. By 2030, the country expects to have 200,000 hydrogen vehicles and more than 450 refueling stations in operation. Recent subsidies for 11,000 hydrogen passenger cars and 2,000 hydrogen buses underscore Korea’s continued commitment to hydrogen mobility. Heavy industries such as steelmaking and petrochemicals are also testing hydrogen as an alternative fuel to coal and gas, creating additional demand for carbon capture equipment, hydrogen-ready burners, and advanced digital monitoring tools.

With strong government backing, a clear policy framework and growing U.S.–Korea collaboration between Korean conglomerates and American firms — there is potential for U.S. companies to contribute to the continued growth of Korea’s hydrogen economy.

For more information, please contact the U.S. Commercial Service Korea at Office.Seoul@trade.gov.