As of Jun 18, Korea had a total of 93 hydrogen charging stations, 23 of which were installed this year. The government aims to build an additional 87 stations by yearend, bringing the total to 180. Accordingly, we expect installations to accelerate in 2H21.
The two major operators of hydrogen charging stations in Korea are HyNet (established in Sep 2019) and Kohygen (Mar 2021, a specialized constructor/operator of hydrogen charging infrastructure for commercial vehicles, such as buses and trucks). We note that the business of commercial hydrogen charging stations has only recently been launched. Under the control of the Ministry of Environment, 16 private hydrogen charging stations are to be built, 10 of which are to be operated by Kohygen, 2 by HyNet, and 1 each by Hyundai Steel, E1, GS Caltex, and Daedo HyGen. For reference, Hyosung Heavy Industries is the number-one domestic installer of hydrogen charging stations.
Source:Business Korea
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