Invest KOREA

KOTRA to hold 'Korea-Sweden Hydrogen Partnership Investment Promotion Forum' online on March 6
EU Low-Carbon No.1 Sweden participates in 'Global Hydrogen Industrial Association Alliance(GHIAA)'

KOTRA is to host Korea-Sweden Hydrogen Partnership Investment Promotion Forum to revitalize Sweden global companies' active expansion in the Korean hydrogen industry investment on April 6.

The event consists of ∆ MOU signing ceremony between the Sweden hydrogen association and the H2 KOREA ∆ Korea-Sweden Hydrogen Industry Policy Seminar ∆ Free Economic Zone Authority's webinar to explain the investment environment of the hydrogen industry ∆ Presentation by Sweden's leading hydrogen companies.

KOTRA's Overseas Trade Center in Stockholm played a bridging role between Sweden's hydrogen association, a leading country in EU for carbon neutrality, and the H2KOREA, a Korean organization in charge of domestic hydrogen industry promotion. The mutual win-win cooperation between Korea-Sweden in the hydrogen industry is expected. According to the EUROSTAT, Sweden's per capita carbon emission in Sweden as of 2019 was 5.2 tons, 40% less than the EU average of 8.4 tons. The official launching of GHIAA is scheduled for the next month, led by Korea.

Taking this event as an opportunity, the H2KOREA will sign the Letter of Intention (LOI) with Sweden's hydrogen association for the official launch of GHIAA.

Ulsan-si, recognized as a leading city in the domestic hydrogen industry, Ulsan Economic Free Zone Authority, and Gwangyang Bay Free Economic Zone Authority will participate and seek opportunities for investment cooperation with Sweden's companies. Three global industry automation companies who are leading the global hydrogen industry trends beyond Sweden, including ABB (hydrogen production solution) and H2 Green Steel (green steel technology) are to be participating.

The person in charge of hydrogen business of ABB, a global joint venture between Sweden and Swiss, expressed expectation of the forum, saying "Korea is greatly contributing to revitalization of the global hydrogen industry with its outstanding hydrogen vehicle technologies and leading hydrogen economic policies. This forum will be an opportunity to check the possibility of expanding to the Korean hydrogen market."

The head of KOTRA's overseas trade center said, "Sweden is a renewable energy powerhouse, and has key technologies in the field of green hydrogen production process, charging infrastructure, and fuel cells," adding "we plan to support Swedish companies expansion of investment in Korea."



Source: Invest KOREA, (April 5, 2022)