South Korea wants Australia’s green hydrogren, but some opportunities remain untapped

Australia needs to look to South Korea as more than just an end “customer” to reap the windfall in the early development of green hydrogen, experts warn.

Australia is being urged to deepen its collaboration with South Korea on green hydrogen. Picture: Supplied

Australia will miss out on the multi-billion dollar windfall in the early development of green hydrogen if it only looks at major trading partners like South Korea as an end “customer” rather than collaborator, experts have warned.

Researchers in the highly developed South Korean green hydrogen sector developing cutting-edge renewable energy to power cars, machinery, manufacturing and even entire towns are collaborating with Europe and the US, but have detected limited interest from Australia to be involved in the ground-up process.

In South Korea’s industrial heartland, Ulsan Technopark – a government-owned research lab – operates in a special regulation-free zone to test and experiment with hydrogen.

Ulsan Technopark director General, Hanwoo Rhee said many of the projects, including hydrogen-powered trams, forklifts and mobile refuelling stations had attracted international interest, but not from Australia so far.

“I think the way Australia’s looking at Korea just as a big customer, just as high demand for hydrogen,” he said.

Ulsan Technopark director general Hanwoo Rhee says there are many more opportunities for Australia to cooperate on green hydrogen research and development. Picture: Clare Armstrong,

“I think that’s maybe why they are not coming to Korea for research and business.”

South Korea imports more than 90 per cent of its energy and natural resources annually, including more than $22 billion of Australian coal and gas alone.

As the world transitions to net zero, Australia stands to lose a huge export market, but there are opportunities to tap in to the new green energy market as South Korea does not have the landmass required for wind and solar.

Australia is considered crucial for major companies like Korea Zinc – which owns and operates the Sun Metals refinery in Townsville, and through its subsidiary Ark Energy is leading a consortium developing a $20 billion hydrogen project in Queensland – to meet ambitious emissions reduction targets.

Korea Zinc vice president Ki-jun Kim said Australia would be the “base” for the company’s decarbonisation plans, and considered current investment opportunities and incentives offered by the government for research and development to be “appealing”.

“Without Australia we cannot make our 100 per cent renewable target by 2050,” he said.

Korea Zinc executive director Seung-hyun Kim and vice president sustainability management division Kijun Kim, who says Australia will be the 'base' of the company's decarbonisation plans. Picture: Clare Armstrong

Korea Zinc will produce green hydrogen by first making ammonia in Australia and shipping it to South Korea for conversion into the precious energy source.

Australia’s Ambassador to South Korea Catherine Raper said Korea had “ambitious” climate change targets that will require outside assistance to reach, putting states like Queensland in a strong position to cash in on demand.

“Because of the strength and trust and longevity and the Australia-Korea relationship, we have strong potential for our companies to work together to help fill that Korean need for green hydrogen,” she said.

“We’re looking to attract increased Korean investment into the clean hydrogen industry in Australia and help grow that industry both in Australia for export, including to Korea.”

Clare Armstrong travelled to South Korea as part of the Australia-Korea Media Exchange Program organised by the Walkley Foundation

Originally published as South Korea wants Australia’s green hydrogren, but some opportunities remain untapped