The Hydrogen Economy South Korea
Market Intelligence Report 2021 Launch Event

  • Wednesday 24 February 2021
  • Webinar
Registration

ABOUT

The Department for International Trade (DIT) Seoul, in partnership with international business development consultancy Intralink, is organising a webinar to discuss “The Hydrogen Economy South Korea”. Intralink’s Dilshod Akbarov, an energy sector specialist based in Seoul, has been working with the DIT Korea team to explore the opportunities for UK businesses in the country’s hydrogen industry and will present his findings.

Why Korea?

Korea offers huge opportunities for fuel cell and hydrogen companies, with both the public and private sectors investing heavily in the nascent hydrogen economy. The Korean government is particularly focused on the mobility and power generation segments, with robust support measure aimed at the domestic market.

Noteworthy statistics include a £9.1 billion hydrogen sector that’s set almost to double in size to £17.3 billion by 2030, a global FCEV market share of 60%, and a global fuel cell power generation market share of 35%. Most of the growth is expected to come from mobility and power generation applications, although industry and hydrogen handling fields are also on a steady rise.

In December 2019, the Korean government announced subsidies for FCEV and hydrogen infrastructure projects in 2020 for £353 million – a 52% increase on the year before. It has also recently announced the Korean Green New Deal, which aims to allocate £13 billion of investment in green mobility – particularly hydrogen projects – by 2025.

Title The Hydrogen Economy South Korea Market Intelligence Report 2021 Launch Event
Date Wednesday 24 February 2021
Time 09:00-10:10 (UK Time) / 18:00-19:10 (KOR Time)
Moderator Cindy Kim, Head of Trade, DIT Seoul
Host intralink
Webinar Tool Zoom (link will be provided prior to the event)
Cost Free

About Intralink

Intralink is an international business development consultancy with 30+ years in East Asia and has supported 800+ companies. Intralink has bilingual teams in Korea, China, Japan, and Taiwan that can provide in-country expertise, market knowledge, extensive networks, and drive business growth in fast and cost effective ways.

www.intralinkgroup.com

Market Intelligence Report DOWNLOAD

PROGRAMME

* Subject to change
Time (UK / KOR) Programme
09:00-09:02
(18:00-18:02)		 Webinar Introduction
HM Ambassador Simon Smith
British Embassy, Seoul
09:02-09:07
(18:02-18:07)		 Opening Remark
Graham Stuart MP, Minister for Exports
Department for International Trade (DIT)
09:07-09:10
(18:07-18:10)		 Welcoming Remark
Young-Chul Choi, Head of Global Energy Cooperation Center
Ministry of Foreign Affairs (MOFA)
09:10-09:40
(18:10-18:40)		 “The Hydrogen Economy in South Korea: Opportunities for UK company”
Dilshod Akbarov, Project Coordinator
Intralink Korea

DOWNLOAD
09:40-09:45
(18:40-18:45)		 “Ulsan International Hydrogen Energy Exhibition & Forum 2021: H2World”
Kyung-Joon Ham, President
Ulsan Tourism Organisation

DOWNLOAD
09:45-10:10
(18:45-19:10)		 Q&A
10:10
(19:10)		 Close
※ Webinar Video Highlights

*Sign up for this event to find out what opportunities South Korea has for your hydrogen business.

*Any enquiries for the event, please contact Youngran Lee, Senior Trade officer of DIT Seoul, youngran.lee@fcdo.gov.uk.

UK

Exporting to South Korea

South Korea is a high-growth market for UK exports. In 2018, the UK exported almost £10 billion of goods and services to the country, up 9.7% on the previous year. In 2017, almost 7,000 British companies exported to South Korea.

Demand for UK goods

The South Korean public has a taste for British culture and a respect for UK goods.
Many well-known UK brands like Standard Chartered, Jaguar Land Rover, British Airways, Lush, Boots and Burberry are already selling in South Korea.

Government policy

President Moon’s focus on emerging technologies and the Fourth Industrial Revolution presents opportunities in sectors of UK strength.

Foreign direct investment (FDI)

FDI from the UK in South Korea was over £7 billion in 2017, 14% higher than in 2016. The South Korean government is keen to encourage foreign investors, making efforts to ease regulations and provide incentives for direct investment.
  • Ease of doing business
    5th
    out of 190 countries, (World Bank 2019)

  • Currency

    South Korean won
  • Business languages
    Korean
    You may need a translator
  • GDP per capita
    $31,350
    UK is $42,560 (IMF 2018)
  • Economic growths
    2.0%
    (IMF, 2019)
  • Time zone
    GMT +9

Opportunities for exporters

There are export opportunities in a range of areas including technology, automotive, fintech, offshore wind and life sciences.

Get in touch with our trade advisers in South Korea
DIT.Seoul@fcdo.gov.uk

Registration Secretariat

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