South Korea Aims to Lead in Liquid Hydrogen Carrier Development
Key Ideas
- South Korea's Ministry of Trade, Industry, and Energy announced a public-private partnership to build the world's largest liquid hydrogen carrier, aiming to secure a leadership position in the high-value shipbuilding sector.
- The government allocated $39.5 million in funding to launch the project, involving major shipbuilders like Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries, along with experts from various institutions.
- An ambitious timeline has been set for the project, with plans to construct a 2,000 cbm demonstration ship by 2027, followed by the development of larger vessels culminating in a 160,000 cbm vessel by 2040.
- The initiative focuses on advanced technologies like ultra-low temperature storage tanks and hydrogen evaporation gas propulsion, aiming to commercialize large hydrogen carriers and establish South Korea as a leader in the sector.
South Korea's Ministry of Trade, Industry, and Energy has unveiled plans to establish a public-private partnership aimed at constructing the world's largest liquid hydrogen carrier. The government views this as a strategic opportunity for the country's shipbuilding industry to excel by focusing on high-value vessels. With a focus on liquefied hydrogen carriers, considered technically challenging with high development risks, the government is taking a proactive role in securing Korea's position in shipbuilding through this new venture. The initiative received $39.5 million in funding for the launch, which will involve major shipbuilders and various experts to develop cutting-edge technologies. The ambitious schedule includes the construction of a 2,000 cbm demonstration ship by 2027, leading to the development of larger vessels by 2040. The project emphasizes innovative technologies such as ultra-low temperature storage tanks and hydrogen-based propulsion systems. By leveraging the expertise of Korean shipbuilders and experts, the initiative aims to pioneer the commercialization of large hydrogen carriers, setting the stage for Korea to dominate the emerging market.