South Korean conglomerates plan to invest a total of 43 trillion won in the hydrogen industry by 2030. 

The government on Tuesday held the third meeting of the hydrogen economy committee and discussed plans on private-sector investment and state assistance to boost the nation’s competitiveness in the area. 

According to the committee, SK will inject 18-point-five trillion won into fuel cell facilities and other fields of the hydrogen economy by 2030, followed by Hyundai Motor at 11-point-one trillion won and POSCO at 10 trillion won. 

The government plans to assist in the creation of a hydrogen ecosystem by developing related technologies and drafting criterion. 

The government also plans to more than double the number of hydrogen charging stations across the country by the year-end. 

Under the plan, hydrogen charging stations will grow from 73 to 180 this year. The number of such stations in the greater Seoul area will increase from 17 to 50 or more during the period.