Last month, the Ministry of Trade, Industry and Energy launched its 'Industry Innovation 2020 platform' to boost innovation-led growth.
And this morning,… business leaders, experts and government officials gathered to discuss ways to create the conditions for that growth.
Won Jung-hwan reports.
The government and private companies will invest over 2-point-3 billion U.S. dollars by 2022 in an attempt to lead the global hydrogen-fueled car market.
The Ministry of Trade, Industry and Energy held its second 'Industry Innovation 2020 Platform' meeting in Seoul on Monday, where some 20 business leaders and government officials discussed ways to promote Korea's hydrogen-powered car industry.
The Minister of Trade, Industry and Energy highlighted why the industry is so important for South Korea.
"Unlike general internal-combustion engine vehicles, hydrogen-fueled cars are eco-friendly vehicles that can reduce fine dust and air pollution. Since we have been preparing for the past 10 years,… we have the potential to lead the future eco-friendly vehicle market with the world's best technology."
He said that as part of the roadmap, the government will strategically cooperate with private companies to develop the hydrogen-fueled vehicle industry ecosystem. The roadmap's targets include producing 16-thousand vehicles within 5 years and expanding the infrastructure for hydrogen-fueled buses by creating new routes between 5 cities, starting with the Seoul to Ulsan route.
The government will also provide more than 110-million U.S. dollars to research and develop state of the art technology for the domestic supply chain,... and establish a stable and cheap supply chain for the distribution of hydrogen energy by 2022.
The investment in the hydrogen-fueled car industry is part of the government's 'Industry Innovation 2020 platform', a strategy of innovation-led growth that will change people's lives and create job opportunities in the country. Through such measures,… the government expects to create a total of 3-thousand-8-hundred jobs by 2022 in related industries.
Won Jung-hwan, Arirang News.
