 |
Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] The Korea H2 Business Summit (hereafter “the Summit”), once regarded as the representative body of Korea’s hydrogen industry, is facing criticism that its influence is rapidly weakening as major member companies withdraw one after another.
The Summit launched with an ambitious vision to lead the global hydrogen economy, but industry observers say its standing has since been shaken.
According to industry sources on December 2, the Summit—which had 17 participating companies as of 2023—has seen the departure or inactivity of key players across the energy, materials, refining, and chemical sectors, including Posco, which previously served as a co-chair alongside Hyundai Motor and SK. Other companies that have withdrawn include LG Chem, Hanwha, E1, GS, and Isu Chemical.
The exodus of such major corporations has led to what some describe as a severe erosion of the Summit’s representative function.
Established in 2021 under the Moon Jae-in administration, the Summit initially drew significant attention thanks to the participation of top business leaders. However, following the change in administration, the government’s momentum behind hydrogen-related policies has weakened, while policy focus has shifted toward areas such as artificial intelligence. As a result, the Summit appears to be losing vitality.
This year, the existing H2 MEET exhibition and hydrogen conference were integrated and rebranded as WHE, but participation by large corporations was limited to Hyundai Motor, Kolon, and HD Hyundai. While some members—including SK, Lotte, and Hyosung—technically retained their membership status, they did not take part in the exhibition. Korea Zinc, which had participated last year, also chose not to operate a booth this year.
The number of exhibiting companies fell sharply as well, dropping 28 percent from 317 last year to 227 this year, signaling a noticeable decline in ecosystem activity centered around the Summit.
Member cohesion has also weakened. The general assembly, previously held every two years, did not take place this year, and concerns are reportedly growing among both the Secretariat and member companies regarding next year’s operating plans.
Internally, the Summit is said to be considering a “restructuring mode,” including organizational changes planned for the year after next.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
