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south-korea-funds-5-9m-in-hydrogen-refuelling-subsidies
south-korea-funds-5-9m-in-hydrogen-refuelling-subsidies

South Korea funds $5.9m in hydrogen refuelling subsidies

Up to 8.2 billion won ($5.9m) has been allocated in subsidies to 152 hydrogen refuelling stations in South Korea.

Starting today (May 1), 54 million won ($38,947) on average will be paid out to each station, designed to promote private participation in the hydrogen refuelling industry, support fuel purchase costs and improve operating conditions.

The Korean Ministry of Environment has allocated the funding, whilst the subsidy operator Korea Automobile Environment Association disclosed the businesses that wanted to receive support for fuel purchase costs for hydrogen.

The Association introduced the programme in 2021 to promote the stable operation of hydrogen refuelling stations and advance the economy. The subsidy is paid twice a year to private operators meeting the payment conditions after a comprehensive review of income and expenditure for the six months prior.

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