JEJU-DO < invest Korea

According to Newsis,

Acting governor of Jeju province said, "We will invest KRW 120.5 billion in hydrogen and electrical vehicles to foster the upstream and downstream industries of EVs and establish hydrogen infrastructure, opening the era of 30,000 EVs."

He participated in a regular meeting held at Jeju province council on November 15, where he delivered 'Address on the occasion of submitting the 2022 budget', saying "the hydrogen sector of the carbon neutral scenario the government announced in October last year aims to build the green hydrogen ecosystem by 2050."

He added that Jeju will solidify its standing as a leading region in carbon neutrality by initiating conversion to hydrogen cars, starting with commercial vehicles such as public buses, and cleaning vehicles, by actively utilizing various demonstration experiences and abundant new and renewable energy."

Also, "Recently, Jeju made meaningful achievements such as its 4 regulation free special zone projects for EV charging services being turned into temporary permits that allows projects application nationwide," adding "we will invest KRW 120.5 billion in electric and hydrogen vehicles to foster the upstream and downstream industries of EVs and build the hydrogen infrastructure, opening the era of 30,000 EVs," he added.

He mentioned "we will build a greenhouse gas inventory and carbon neutrality support center to develop an energy conversion model."

Jeju's 2022 budget is planned as KRW 6.3922 trillion, up KRW 562.3 billion or 9.65% from the previous year. The general account is KRW 5.3527 trillion, while the special account is KRW 1.395 trillion.

The provincial budget opened the era of KRW 6 trillion, in 4 years from KRW 5 trillion in 2018.

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Source: Newsis (November 15, 2021)