South Korea Turns to Hydrogen

South Korea plans to develop a hydrogen-powered energy supply. To fund the creation of the hydrogen energy supply, which will come from advanced nuclear reactors, the government will allocate $843 million by 2019, the Ministry of Science and Technology said in a statement.

If the initiative is successful, South Korea will save 85m barrels of crude oil per year with a value of 3 trillion won at current prices, it added.

The hydrogen-based energy supply will also help the country reduce air pollution, by cutting carbon dioxide emissions by about 10m tons a year, according to the ministry.