Domestic plausibility check: Gwangyang Bay and Ulsan as candidate hydrogen-port platforms
| Dimension | Gwangyang Bay | Ulsan | Interpretive implication |
|---|---|---|---|
| Development logic | Southwestern industrial-port platform with a possible business-support node at the former Yeosu Expo site | Energy-hub and oil-hub legacy translated into a hydrogen-exchange attraction strategy | The two regions compete under different platform logics rather than as perfect substitutes |
| Physical logistics | Existing port-industrial complex plus planned Myodo hydrogen-ammonia terminal and pipeline concept | Stronger current ammonia handling, 93,000-ton storage, and prior energy-hub infrastructure experience | Ulsan is stronger in existing logistics; Gwangyang Bay relies more on planned but plausible build-out |
| Anchor demand | Large petrochemical, steel, and power-related offtake near the port; strong regional hydrogen logic | Very large projected ammonia-equivalent demand in the wider Ulsan/Busan/Gyeongnam region | Both have strong demand bases, so the domestic argument cannot rest on demand alone |
| Institutional and market tools | Strong local policy commitment, but few mature price-reporting or contract-standardization tools | Strong city-level ambition and policy experience, but no mature hydrogen-trading institution yet. | Both remain pre-exchange sites; institutional preparation is a differentiator to be built, not assumed |
| Service ecosystem | Potential Expo-site business centre, but finance, business services, and internationalization remain weak | Energy-business legacy, but no equally ready-made international business-centre site and still weak internationalization | Gwangyang Bay's main relative edge is the potential business-support site; Ulsan's is logistics and hub experience |
| Dimension | Gwangyang Bay | Ulsan | Interpretive implication |
|---|---|---|---|
| Development logic | Southwestern industrial-port platform with a possible business-support node at the former Yeosu Expo site | Energy-hub and oil-hub legacy translated into a hydrogen-exchange attraction strategy | The two regions compete under different platform logics rather than as perfect substitutes |
| Physical logistics | Existing port-industrial complex plus planned Myodo hydrogen-ammonia terminal and pipeline concept | Stronger current ammonia handling, 93,000-ton storage, and prior energy-hub infrastructure experience | Ulsan is stronger in existing logistics; Gwangyang Bay relies more on planned but plausible build-out |
| Anchor demand | Large petrochemical, steel, and power-related offtake near the port; strong regional hydrogen logic | Very large projected ammonia-equivalent demand in the wider Ulsan/Busan/Gyeongnam region | Both have strong demand bases, so the domestic argument cannot rest on demand alone |
| Institutional and market tools | Strong local policy commitment, but few mature price-reporting or contract-standardization tools | Strong city-level ambition and policy experience, but no mature hydrogen-trading institution yet. | Both remain pre-exchange sites; institutional preparation is a differentiator to be built, not assumed |
| Service ecosystem | Potential Expo-site business centre, but finance, business services, and internationalization remain weak | Energy-business legacy, but no equally ready-made international business-centre site and still weak internationalization | Gwangyang Bay's main relative edge is the potential business-support site; Ulsan's is logistics and hub experience |
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