[Photo] South Korea to invest in hydrogen vehicle technology

At its second meeting regarding its Industry Innovation 2020 Platform at the Grand InterContinental Seoul Parnas hotel on June 25, the Ministry of Trade, Industry and Energy (MTIE) announced its plans for major investments in hydrogen vehicle technology that will occur at both the private and public level. MTIE indicated investments of up to 190 billion won (US$170.81 million) within this year and 420 billion won (US$377.58 million) next year, with an estimated total of 2.6 trillion won (US$2.34 billion) by 2020. In attendance were representatives from Hyundai Motors, Hyosung Heavy Industries, SK Gas and Korea Gas Safety Corporation.