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South Korea looks to hydrogen power

In an effort to cut down on the importation of crude oil and to reduce air pollution, the South K...

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According to the South Korean Ministry of Science and Technology, "The government will allocate US$843 million by 2019 [to develop such a capability]."

"If the initiative is successful, South Korea will save 85 million barrels of crude oil per year with a value of 3 trillion won (US$2.6 billion) at current prices [and] the hydrogen-based energy supply will also help the country reduce air pollution, by cutting carbon dioxide emissions by about 10 million tons a year," added the ministry.

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