Moon administration’s recent Annual Briefing revealed some of the country’s plans to boost its energy transition.
Three ministries, the Ministries of Economy and Finance; Trade, Industry and Energy; and SMEs and Startups, and the Financial Service Commission (FSC) participated in the briefing on February 17, which was themed as “Unshakable Industrial Power.”
In the briefing, the Ministry of Trade, Industry and Energy (MOTIE) presented this year’s strategies and goals, which also involves a few notable plans about secondary battery, hydrogen society, and ongoing renewable projects.
Along with its plan to invest KRW 4.7 billion in the next-generation lithium-based battery as well as solid-state battery, the ministry is planning to start a pilot program in the first half of 2020 to lease batteries for EV operators. The program would see leasing companies covering the initial battery costs while transportation companies paying battery fee. The leasing party will also take in used batteries to put them in a new product cycle.
On the hydrogen side, MOTIE provided quite ambitious numbers for 2020: export 1,000 units of hydrogen cars, cut hydrogen wholesale price by 25%, install 100 hydrogen refueling stations, put 10,000 new hydrogen cars on roads.
MOTIE also revealed the government’s intention to break ground for “32 sizeable renewable energy projects” of 2.3GW capacity investing KRW 1.9 trillion this year including Saemangeum and Jeju Hanlim Offshore Wind.