수소 경제의 두 얼굴: 중국 시장 질주하는 현대차와 멈춰 서는 국내 정책의 역설 > K-wave Trends

Hyundai Motor Group's actions in China clearly show its strong will to solidify its dominance in the hydrogen commercial vehicle market. The '2026 International Hydrogen Energy and Fuel Cell Vehicle Competition', recently held in Kunshan, Jiangsu Province, China, was a stage where 'HTWO Guangzhou', a strategic location for Hyundai Motor Company, showed off the capabilities it had built up in the global market. Hyundai Motor Company emphasized its technological leadership by going beyond simply selling vehicles and introducing integrated solutions that encompass the entire value chain, from hydrogen fuel cell systems to PEM water electrolysis technology. In fact, the fact that we ranked first among foreign companies by selling more than 900 hydrogen commercial vehicles in the Chinese market last year proves that our localization strategy is not just a slogan, but has led to actual market competitiveness. In particular, the case of being selected as a leading industrial chain company by Guangzhou City is a decisive indicator that Hyundai Motor Company's technology has been deeply entrenched in the Chinese local ecosystem.

On the other hand, the domestic hydrogen power generation market is trapped in a thick fog of policy uncertainty. The industry is expressing serious concerns as the government has recently shown moves to drastically reduce the size of the general hydrogen power generation bidding market and phase out related support. The ostensible reason why the government made this decision is because of the insufficient carbon reduction effect of using gray hydrogen, but the industry's perspective is quite different. Industry officials warn that fuel cell power generation serves as an essential bridge to advance into the era of clean hydrogen, and that cutting off support before the initial market is formed could lead to the collapse of the entire hydrogen ecosystem. Since fuel cells and water electrolysis technologies are two sides of the same coin, sharing core components and processes, a decline in the power generation market is likely to ultimately lead to a weakening of the competitiveness of the entire future hydrogen industry, including water electrolysis.

Policy confusion surrounding the hydrogen industry is becoming more complicated, coupled with safety accidents in the field. The recent electric shock incident that occurred at the Korea East-West Power Company's Ulsan power generation headquarters while inspecting fuel cell facilities clearly shows how urgent it is to manage old facilities and expand safety infrastructure. Although the accident occurred at a facility that was shut down, it reminds us that the transition to a hydrogen economy does not simply mean a technological leap, but must be supported by a systematic safety management system and the securing of skilled manpower. These accidents are a factor that can reduce the public's trust in hydrogen energy, and as a result, there is a risk that it will act as an obstacle to achieving social consensus to foster the industry. This is a time when there is an urgent need to pursue substantive policies that ensure the safety and reliability of the industry as well as the speed of technology.

The trends in the global market are developing much more intensely than Korea's concerns. The United States is providing unprecedented tax credits for clean hydrogen production through the Inflation Reduction Act (IRA), and the European Union is also risking its life to take the lead in the supply chain, starting with the Green Deal industrial plan. China is also consolidating its national capabilities by designating a group of hydrogen pilot cities and accelerating the establishment of an 'integrated demonstration cluster' that connects the entire cycle from production to utilization. In this way, the hydrogen industry has now been elevated beyond a simple eco-friendly energy source to a strategic asset that determines national industrial competitiveness and energy security. The reason why Hyundai Motor Group's achievements in China are important is because they showed the possibility of our company surviving and expanding its influence in this global competition for hegemony.