Bulgaria's Balkan Hydrogen Co-operative Cluster and South Korea's GIG SA are partnering on the agreement, which is a continuation of last summer's visit to the European Parliament.
South Korea's Ministry of Trade stated that the two countries have proposed to sign an agreement on trade and investment incentives. In a meeting with Bulgarian Minister of Economy and Industry Bogdan Bogdanov, South Korean Trade Minister Ahn Dukgyun appealed for cooperation in supply chains, particularly in the industrial and energy sectors.
Bulgaria is planning to build the Zahir project, part of a large hydrogen valley in the Starozagorsk region, with financing from the European Commission. Projects include investments of BGN 2 billion for the production, distribution and utilization of green hydrogen.
Bulgaria's government hydrogen strategy is based on green energy and aims to be implemented by 2030. Under this strategy, the country plans to generate green hydrogen using around 47 gigawatt hours of renewable energy. No production targets for green hydrogen and its variants have yet been set.
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