South Korea set out its stall as a world leader in the hydrogen economy – and future massive importer of the fuel – as its government said H2 would oust oil as its largest single energy source by 2050.

In a first comprehensive strategy statement on hydrogen, the Seoul government said by mid-century it will aim to achieve self-sufficiency covering 60% of a 28-million-tonne annual demand by tapping green H2 produced overseas.

With hydrogen set to penetrate every area of its economy including power generation, transport and heavy industry, the government said it would ensure security of the import lines by investing in 40 dedicated foreign hydrogen supply channels, leveraging South Korea’s financial and technical heft.

That could be good news for giant green hydrogen initiatives planned in locations in the Middle East and Australia, which have already identified South Korea and Japan – which have limited space for massive domestic H2 production – as potential customers for their output.