Seoul: South Korea is set to construct the world's largest liquefied hydrogen carrier (LHC) by 2027 as part of an initiative to foster future growth in the local shipbuilding industry, the Ministry of Trade, Industry and Energy announced. The project aims to position South Korea at the forefront of the LHC market, with a significant investment earmarked for 2025.
According to Yonhap News Agency, the Ministry plans to allocate 55.5 billion won (US$39.5 million) towards the development of the LHC in 2025. These carriers are seen as high-value, high-tech vessels anticipated to play a vital role in the global shipbuilding sector. Despite their potential, no country has yet commercialized an LHC, highlighting the innovative nature of this project.
The South Korean government laid out a strategy the previous year to ensure the country's shipbuilding industry leads in the LHC market. This strategy includes supporting local industries in securing essential technologies for the development of key materials and parts necessary for LHCs.
A ministry official emphasized the importance of government intervention, stating that LHCs come with high risks during early development stages due to their technical complexity. The official noted that the government's support is pivotal in assisting the Korean shipbuilding industry to capitalize on new market opportunities. The government also intends to promote the early development of large-scale LHC technologies and work on revising pertinent laws and regulations.