A hydrogen fund worth 500 billion won will be created to stimulate investment in the hydrogen field.
The Ministry of Trade, Industry and Energy announced the launch of the hydrogen fund externally while attending the ‘2022 H2 Investor Day’ held at Dongdaemun Design Plaza (DDP) with Il-Jun Park, 2nd Vice Minister of Trade, Industry and Energy on the 6th, and signed a public-private partnership agreement for the successful creation of the fund. said to have signed
This event was held for the first time this year by the Korea H2 Business Summit to revitalize private investment and discover cooperation opportunities in the hydrogen field.
The hydrogen fund was created voluntarily by private companies, sympathizing with the need for large-scale investment in the hydrogen sector. It was formed with the goal of 500 billion won through investment by domestic companies (Korea H2 Business Summit member companies, etc.) and external investors, and is expected to be liquidated after 10 years of operation.
Mirae Asset, a parent fund manager, plans to recruit investors and match funds by the end of this year together with joint investment partner Stonepeak and sub-fund manager Noh&Partners to invest in hydrogen in earnest from the beginning of next year.
In addition, the hydrogen fund plans to establish domestic and overseas hydrogen production, distribution and storage infrastructure and make investments to develop core hydrogen technology.
The government plans to strengthen policy support such as financial support and regulatory innovation for the successful creation of the hydrogen fund.
Policy financial institutions such as Korea Development Bank provide financial support, such as granting incentives such as interest rate cuts and loan expansion, to projects and companies in which hydrogen funds invest.
In addition, public energy institutions such as KEPCO, Korea National Oil Corporation, Korea Gas Corporation, and six power generation companies support small and medium-sized companies for hydrogen fund investment, such as R&D, technology commercialization, and discovery of customers.
The Ministry of Trade, Industry and Energy plans to make efforts to solve difficulties in the field by actively discovering and easing regulations related to hydrogen project and new technology development.
Korea H2 Business Summit member companies, policy financial institutions such as Mubo, Mercury, Korea Development Bank, and public energy institutions such as KEPCO, Korea Oil and Gas Corporation, signed a cooperation agreement on the same day, promising efforts to create a business-friendly investment environment. .
“Hydrogen is a key energy source that can solve both carbon neutrality, which is the current trend of the times, and energy security, which is a practical task,” said Vice Minister of Industry, Park Il-joon. We will provide unsparing support so that the revitalization of private investment can begin in earnest by laying the institutional foundation and creating a hydrogen fund in the future.”
Inquiries: Hydrogen Economy Policy Division, Ministry of Trade, Industry and Energy (044-203-3954)
/cloudfront-ap-northeast-1.images.arcpublishing.com/chosun/S45NNBMRMZBURK7EB7RFC7EPT4.png?fit=300%2C300&ssl=1)
