President Moon Jae-in says the nation will exert every effort to become a leader in the world's hydrogen economy.  

Moon made a remark in Incheon on Thursday while being briefed on measures taken by related government agencies and industries, that it a transition to a hydrogen-based economy from one based on carbon was an irreversible trend.

Hydrogen is an integral energy in an era of carbon neutrality, the president said. 

He said countries around the world are seeking to lead the market while global companies are vying in heated competition as the global hydrogen market is expected to be valued at 12 trillion dollars by 2050.

Moon said South Korea is leading the pack in several hydrogen-related area, particularly hydrogen vehicle and fuel cell, due largely to the active support and investment from the government and the corporate sector. 

He said while trying to further solidify its position in these areas where Korea has the upper hand, the country will also seek to quickly catch up in other related areas.