Hydrogen Cost in South Korea
The chart above illustrates Hydrogen price assessments, in US Dollar Cent per normal cubic meter (USD cent/Nm3), from May 2022 through May 2023, as described below:
- contract price, exw: Hydrogen, South Korea, contract price, exw, formula
- cash cost, on-site: Hydrogen, South Korea, cash cost, formula, on-site (typical consumer facility)
- cash cost, off-site: Hydrogen, South Korea, cash cost, formula, off-site (large supplier)
Hydrogen contract pricing on an ex-works basis in South Korea reached 33 USD cent per normal cubic meter in May 2023, representing a 1.50% decrease compared to April 2023. Throughout the 12-month period ending May 2023, Hydrogen contract prices in South Korea declined by 12% overall. The on-site cash production cost for Hydrogen in South Korea stood at 19.80 USD cent per normal cubic meter in May 2023, down 1.50% from the previous month of April 2023. Over the preceding 12 months, on-site Hydrogen production costs in South Korea decreased by 14% in total. Hydrogen off-site cash costs from large suppliers in South Korea totaled 16.60 USD cent per normal cubic meter in May 2023, marking a 1.71% reduction from April 2023. Comparing May 2023 to May 2022, off-site Hydrogen supply costs in South Korea fell by 15% cumulatively.
The figures shown are illustrative and represent a historical sample from Intratec Industry Economics & Competitiveness. For up-to-date monthly competitiveness benchmarks and industrial cost data across 33 countries, subscribe to Intratec Industry Economics & Competitiveness.
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About Hydrogen
Hydrogen is a vital utility in process industries, especially in refining and chemical manufacturing. It is used in hydrogenation reactions, hydrocracking, and as a reducing agent, playing a key role in producing cleaner fuels and specialty chemicals.