A Korean province South Chungcheong Province (Chungnam) is planning to slash the hydrogen price by establishing a solid distribution network for byproduct hydrogen.
The province signed an agreement with Dangjin city government, HyNet, and the Korea Hydrogen Industry Association to build a large hydrogen export facility, investing KRW 6 billion of private money. The export hub, which will take a 9,900m2 land in Songsan 2 General Industrial Complex in Dangjin, will have large scale compressors and yards for tube trailers. When completed, the facility can provide around 1,700 tons of hydrogen per year to hydrogen stations in Chungnam.
The statement said that it will bring down hydrogen price from the current KRW 8,000-8,800 level to around KRW 5,000. The facility will be completed by April 2021, according to the plan.
Source: South Chungcheong Province