Hold a Seminar on "Business Cooperation in Hydrogen and Ammonia for the Establishment of Global Supply Chain" in Tokyo on August 7

The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yu Jeoung-yeol) will hold a seminar on "the trends of Japanese hydrogen and ammonia industry and opportunities for Korea-Japan business cooperation" for Korean companies in Tokyo, Japan on August 7.

The seminar was prepared to enhance cooperation on the establishment of a clean hydrogen supply chain between the two countries, with the establishment of a policy consultative body at the working level such as the Hydrogen Cooperation Dialogue, a follow-up to the Korea-Japan Summit.

At the seminar, director Yoshimi at Deloitte-Tohmatsu introduces Japan's decarbonization policy and the Japanese government's support system for hydrogen and ammonia industries. In addition, CEO Katsuhiko Hirose of HyWealth, who led the development of the engine for 'Prius', the first hybrid car, will give the analysis of Japan's hydrogen and ammonia industries from a technology perspective, and present ways for cooperation for the two countries' companies in the hydrogen value chain.

Meanwhile, Japan announced its Basic Hydrogen Strategy in 2017, choosing hydrogen and ammonia, which do not emit carbon dioxide, as the next generation energy. In Green Transformation(GX) strategy that it announced last year, Japan plans to support prior investment for the projects, in which private investment is not feasible, through the issuance of GX Transition Bond. For stable hydrogen supply, Japanese general trading companies and energy companies are continuing to make overseas investment, while the demonstration project that utilize ammonia for hydrogen import through sea transport is speeding up.

According to Japan's New Energy and Industrial Technology Development Organization (NEDO), an initial market focused on home fuel cells and hydrogen EVs has been formed in Japan's hydrogen energy industry. When it becomes fully commercialized, the market is expected to grow to the scale of JPY 1 trillion by 2030 and JPY 8 trillion by 2050.

Director Kim Sam-sik of KOTRA's Regional Headquarters in Japan said, "Bilateral cooperation between Korean and Japan to build a global hydrogen and ammonia supply chain could be used as a stepping stone to preoccupy future markets including the expansion to third countries," adding that "KOTRA will actively support so that Korean companies discover cooperation opportunity in Japan's hydrogen and ammonia industries and take the leading role in the global hydrogen economy."



Source: Invest KOREA (2024.08.08.)