The South Korea PEM Electrolysis Catalysts market is witnessing significant growth, with a valuation of USD 23.5 million in 2024 and a projected increase to USD 38.9 million by 2030, showcasing a strong CAGR of 8.8%. This growth is attributed to South Korea's strategic focus on hydrogen energy and green technologies. The country has positioned itself as an innovation hub for hydrogen technologies in Asia, with substantial investments in catalyst development. South Korea's Hydrogen Economy Roadmap aims for 6.2 million fuel cell electric vehicles and 15 GW of hydrogen power generation by 2040, fostering domestic growth and driving catalyst exports to global markets. Despite the market's positive trajectory, challenges persist, including the scarcity of platinum group metals (PGMs) like iridium and the high costs of PEM electrolyzers. Efforts are underway to develop non-PGM alternatives to mitigate these challenges and ensure a stable supply chain for hydrogen technologies. Recent advancements focus on reducing precious metal content in catalysts while enhancing performance. Innovations such as metal-organic frameworks and nickel-based solutions offer cost-effective alternatives, with some solutions surpassing PGM-based catalyst performance. The market is characterized by fierce competition, with companies exploring supply chain diversification and recycling initiatives to address material availability challenges. Major industry players like POSCO Holdings and Hyundai Motor Company are driving innovation to reduce iridium content in catalysts while maintaining efficiency, supported by government initiatives promoting green hydrogen production. In conclusion, South Korea's PEM Electrolysis Catalysts market reflects a landscape of innovation and growth, propelled by the nation's commitment to a hydrogen economy. Technological advancements and strategic partnerships will continue to drive the market forward, addressing challenges and unlocking opportunities for sustainable hydrogen production.