JEJU-DO < invest Korea

According to Yonhap News,

Jeju will work to get its renewable energy research complex designated as a ' regulation-free special zone for demonstration of hydrogen-based energy storage system'.

Jeju-do announced its plan to designate about 4,000㎡ of the Jeju Global Research Center of the Korea Institute of Energy Research in Gujwa-eup, Jeju-si.

When its plan for Jeju regulation-free special zone is finalized, Jeju-do will apply to the public contest for a regulation-free special zone for demonstration of hydrogen-based energy storage system by the Ministry of SMEs and Startups.

If designated as a regulation-free special zone, it will be possible to conduct a demonstration of hydrogen-based energy storage systems (ESSs) that overcomes high costs and low capacities.

As a result, the shutdown that suspends the operation of renewable energy generation could be eased, while green hydrogen, which produces renewable power, could be sold offshore.

The Ministry of SMEs and Startups selected seven regions, including Jeju, as candidates for special zones in October, and plans to make final designation for three to four special zones next year.

koss@yna.co.kr

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Source: Yonhap News (December 10, 2024)