The energy crisis triggered by continuing wars in the Middle East is accelerating a global race toward decarbonization. Countries are working to reduce their dependence on fossil fuels and focus on developing eco-friendly energy sources. If the 20th century was defined by the “geopolitics of oil,” the 21st century is likely to become a “Green Century,” characterized by competition for leadership in the hydrogen value chain. Amid this trend, an unexpectedly strong partnership is forming between India and Korea, two of Asia’s most dynamic economies.
The two countries have built up an economic cooperation relationship over time. Hyundai Motor vehicles running on Indian roads, Samsung Electronics products in Indian homes, and Korean companies actively investing in Indian manufacturing all illustrate this well. In particular, there is strong potential for this to expand into cooperation centered on green hydrogen. Both countries recognize that hydrogen is not merely an eco-friendly energy source but a key resource with economic and strategic value. If India’s large-scale production base is combined with Korea’s advanced technological capabilities, the two countries could have the opportunity to lead the speed and direction of the global energy transition.
India’s entry into the hydrogen industry has been highly proactive. Through its “National Green Hydrogen Mission,” backed by an initial budget of $2.4 billion, the Indian government has set a target of producing 5 million metric tons (MMT) of green hydrogen annually by 2030. India’s greatest competitive advantage lies in its vast territory, and on this basis, approximately 125 GW of renewable energy capacity dedicated to hydrogen production is expected to be added by 2030. For India, hydrogen is not simply an energy source but a key means of achieving energy independence. It can reduce the enormous costs spent on crude oil imports while also helping to cut carbon emissions in “hard-to-abate sectors” such as steel and fertilizer. In addition, India’s western coastline, renewable energy corridors, and growing port infrastructure point to the potential for India to grow into a green hydrogen and green ammonia export hub serving East Asian countries.
The conflict in the Middle East has led to a global energy crisis, and in response, India is shifting its energy policy in a direction that gradually reduces its dependence on oil. Earlier this year, Indian Railways’ first hydrogen train successfully completed a trial run, traveling 89 km over about one hour and 30 minutes in the Haryana region. This is regarded as a symbolic example of India’s efforts to realize its carbon-neutral and zero-emission goals by expanding eco-friendly transportation based on clean energy. India is also pursuing plans to operate hydrogen buses, and the Indian Oil Corporation (IOCL) plans to supply hydrogen shuttle buses to the Delhi Metro. However, in order to expand the hydrogen industry in earnest, there remain challenges to be addressed, such as building infrastructure and securing advanced technological capabilities in areas like electrolyzers and fuel cell systems.
Korea has secured world-class competitiveness in the “downstream” sector, which refers to hydrogen utilization and application technologies rather than production. Similar to India’s National Green Hydrogen Council, Korea has a dedicated Hydrogen Economy Policy Bureau within the Ministry of Trade, Industry and Energy (MOTIE) that advances the nation’s hydrogen goals. Korea is one of the most aggressive countries in the world in promoting the hydrogen economy and was also one of the first to announce a “Hydrogen Economy Roadmap.” The Korean government aims to deploy 6.2 million hydrogen fuel cell electric vehicles (FCEVs) and install 1,200 hydrogen refueling stations by 2040. In addition, major conglomerates such as Hyundai Motor and SK Group have announced plans to invest more than $40 billion in hydrogen technology by 2030. Hyundai Motor is expanding hydrogen city buses in cooperation with local transit agencies and plans to supply a total of 400 hydrogen buses in the Seoul and Incheon regions over the next five years. To this end, last April it signed memorandums of understanding (MOUs) with Down, Samhwan, Seun, and Hyundai Securities to expand hydrogen bus production, and it is also seeking to build hydrogen transportation networks on various routes by converting existing compressed natural gas (CNG) refueling stations into hydrogen stations.
Building on its shipbuilding competitiveness, Korea is also leading the development of hydrogen-powered tankers and liquefied hydrogen carriers — that is, pipeline development — in the maritime industry beneath the waves. However, despite these advantages, Korea faces limitations in securing the abundant renewable energy resources and inexpensive land required for large-scale green hydrogen production.
In this context, the need for cooperation between New Delhi and Seoul is very clear. India can produce eco-friendly hydrogen on a large scale based on its vast territory and abundant solar and wind resources, but it is relatively lacking in advanced technological capabilities such as high-performance electrolyzer technology and fuel cell systems. Conversely, Korea has high energy demand and excellent technological capabilities, but its limited territory and resources constrain production expansion. In particular, Korea has set a goal of meeting 33% of its total energy consumption with hydrogen by 2050, making it even more important to secure long-term, reliable overseas supply partners. Ultimately, the two can form a complementary cooperation structure in which India provides scale and a renewable energy base, while Korea provides technological capability and industrial precision. If such cooperation is strengthened, the two countries are likely to develop into one of the most important clean energy partnerships in Asia.
Such cooperation could transform Indo-Pacific trade routes into a “Green Corridor” and build a new energy network that stably supplies India’s eco-friendly energy to Korean industry. As Korea actively seeks to secure low-carbon fuels such as hydrogen and ammonia to cut carbon emissions in its industrial and power generation sectors, Reliance Industries has signed a contract to supply green ammonia to Samsung C&T for 15 years, with the deal valued at more than $3 billion.
Beyond simple energy transactions, Korean companies can invest in various fields such as India’s hydrogen infrastructure, storage systems, and eco-friendly mobility projects. Joint ventures between India’s renewable energy companies and Korean manufacturers could lead to the construction of integrated supply chains spanning the production, storage, transportation, and industrial use of hydrogen. In the long term, India’s major ports could become export hubs for hydrogen derivatives, providing a stable energy supply base for Korean industries pursuing carbon neutrality.
Last year, India’s KP Group and Korean company AHES signed a partnership to establish and operate a green ammonia production plant in India. In addition, in 2024, India’s renewable energy company ACME Group and Korea’s eco-friendly hydrogen company LTech UVC signed a $3 billion cooperative investment contract for eco-friendly hydrogen and ammonia plants in India.
However, the transition to a hydrogen economy is closer to a marathon than a sprint. The current cost of producing green hydrogen is around $3 to $6 per kg, much higher than that of “gray hydrogen” produced from natural gas. Reducing these costs requires expanded electrolyzer manufacturing and technological innovation. This is also a strategic area where India and Korea can respond to the China-centered battery industry structure by building a joint supply chain. In addition, the two countries can play an important role in setting international standards for the purity and safety of hydrogen, and this cooperation model has the potential to expand to countries in the Global South.
Ultimately, with India providing the “fuel” of renewable energy and large-scale production capacity, and Korea providing the “engine” of advanced technology and industrial demand, the two countries can draw a blueprint for a new industrial era together. If both countries actively pursue hydrogen cooperation, they will be able to bring forward a cleaner and safer “Green Century.”
