1. Reasons for Amendment

The Hydrogen Economy Promotion and Hydrogen Safety Management Act was partially amended (Act No. 18889, partially amended on  June 10,  2022, partially enforced on December 11,  2022) to establish an ecosystem centered on clean hydrogen throughout its entire cycle of production, distribution, and utilization to realize carbon neutrality. Accordingly, the amendment of the Act will prescribe matters delegated by Acts related to the hydrogen power generation bidding market and bidding market management agencies and matters needed to implement them, designate Hydrogen Day for the promotion of the hydrogen industry, and prescribe matters necessary to assist the operation of the hydrogen economy committee of the agency dedicated to promoting the hydrogen industry.

2. Major Provisions

A. Prescribe matters concerning the purchaser and purchased amount of hydrogen power generation in the hydrogen power generation bidding market, the criteria for opening a bidding market and selecting a successful bidder, the hydrogen power amount contract, the amount of bidding market opening amount, and the recovery of purchase performance costs (Articles 34-20 through 34-24)

B. Prescribe matters concerning the criteria for designation of a bidding market management agency, fees, and documents for management agency designation (Articles 34-25 through 34-27)

C. Prescribe matters concerning the designation of the Hydrogen Day and the holding of events to form a social consensus on the importance of hydrogen energy, and the reward of meritorious persons (Article 36-2)

D. Prescribe matters concerning the entrustment of business support to the Committee of the agency dedicated to the promotion of the hydrogen industry (Article 57)