The South Korean government has thrown its weight behind the future development of fuel cell technology.

The country has pledged substantial financial support for the fuel cell sector in an effort to make the industry a commercially-viable option.

A joint initiative between the Korean government and Hyundai-Kia will see 48 billion won (£26.4 million) invested in the development of fuel cell buses and cars by 2008.

South Korea's Vice Commerce Minister, Lee Won-gul, has said that the government is keen to see more investment in the technology so as to develop a commercially available fuel cell system for the transport sector.

"As hydrogen fuel cells are expected to replace petroleum-dependent internal combustion engines in the near future, many countries including the United States, Japan and the European Union are increasing investment for the car's development and commercialisation," Mr Won-gul said, reports the Korea Herald.

He added that the government is aiming to "support early commercialisation of domestic hydrogen fuel cell cars and set up necessary infrastructure such as hydrogen fuelling station to induce stable private investment".

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