Five major South Korean conglomerates seek to collectively invest around 38 billion U.S. dollars into the hydrogen economy.
SK will be injecting more than 16 billion dollars for the next five years on hydrogen infrastructure.
while Hyundai Motors will inject nearly 10 billion dollars on equipment as well as hydrogen car R&D.
The two conglomerates announced they have formed a hydrogen alliance.
The team-up is looked to help "expand the hydrogen ecosystem through cross-boundary cooperation."