On Thursday, the Innovation Center Denmark released a report titled, Outlook on Hydrogen Economy and Roadmap.
To discuss the report, its implications and the growing partnership between Korea and Denmark in the hydrogen economy, Alex Jensen is joined by Harry Oh Country Representative of Bloom Energy in Korea, Lars Kruse Director, Markets and Projects APAC for COWI, Dilshod Akbarov, Project Manager Energy and Environment Sector at Intralink and Bae Sungyou, Innovation Officer at Innovation Center Denmark Seoul.
The discussion dives deep into the status and near future of the hydrogen economy and how Korean and Denmark are well situated to synergize by dovetailing on each other’s strengths and challenges. Denmark is well situated in terms of upstream hydrogen elements such as gather electricity from offshore windfarms and use that energy to generate green hydrogen.
Korea on the other hand, is well placed in terms of applications and downstream solutions. Companies such as SK, GS, and POSCO are continuing to invest in hydrogen. Hyundai has committed 11.4 trillion won to its hydrogen-based business.
No one doubts that the moving to a hydrogen-based economy is not challenging, as Harry Oh from Bloom Energy says, “The devil as always in in the details when it comes to delivering innovation. Although it would be nice if Korean companies could do anything, that’s just not realistic. Hydrogen is a team sport.”
The conversation then moved to the increasing need for and speed of development in the sector. Many countries such as Demark are at or remarkably close to 100% renewable for the energy sources, while Korea in this respect lags. But as the global price of offshore wind power continues to fall, Korea has an excellent opportunity to put its fast follower skills into practice.
As these kinds of cross-border partnerships continue to develop, Koreans can look forward to a future not only of greener mobility, but also greener energy and manufacturing sectors. All key to achieving net zero by 2050.
Today’s episode was brought to you by the Innovation Center Denmark, at the Danish Embassy in Seoul.