 Circularity is part of the answer to enable faster energy transition. And on that affordability question, there is scarcity of some of these resources, but there is also a question, for instance, on hydrogen. Green hydrogen is very promising, but raises a huge question of affordability and cost. So Yusung, you've been giving some thought on that very precisely. Can you share them with us? Yeah, sure. I think the most important factor going forward to bring down hydrogen costs so that they can be affordable to customers is, without doubt, government subsidy. Hydrogen is an expensive fuel right now. The basic rationale behind the economics of hydrogen is that the costs will come down as producers of electrolyzers like Linde of Germany, air product of France and Siemens. As they produce more electrolyzers, their production costs will come down. So this will drive the prices for hydrogen down along with lower renewable energy costs. But according to Bloomberg New Energy Finance, currently in 2022, the cost of producing green hydrogen in Korea is $7.85. They forecast this cost to come down to $2.47 by 2030 and to $1.43 by 2050. But what I am concerned recently is that simply the demand for hydrogen is not growing as fast as we would like them to. In Korea, for example, the government's initial plan by the end of this year, 2022, was to have 67,000 hydrogen cars out in the market selling and running. As of the end of October of this year, that number was 27,870 cars. So only 43% of the target has been bet. So why is this? When you look at customer burden, I think that customers are very well subsidized when they buy their hydrogen cars. For example, the price of a Hyundai Nexo, which is the hydrogen car offered by Hyundai, the price tag is $57,000. And what the government does is that they provide around $26,000, which is around 46%. So customers can buy a Hyundai Nexo for $31,000. This is roughly the same as a midsize SUV that they sent to fate out in the market. So definitely customers are not losing by buying a hydrogen car in Korea. In terms of fuel costs, there is a de facto price cap on the price of hydrogen that is used to fuel the cars, which is at around $7 per kilogram. But if you want to compare the cost of hydrogen to diesel and gasoline, you have to compare it in terms of how many kilometers it's going to go, how much it costs for every kilometer that the car is running. So for hydrogen cars, the cost is 9.5 cents per kilometer. For gasoline, that's 11 cents. And for diesel, it's 10.6 cents. So in terms of fuel, customers there again are definitely having incentives to buy hydrogen cars. But in the end, customers, they complain when we ask them, why aren't you buying more hydrogen cars? What they complain is about there's not enough fueling stations out there for them to refuel their cars. And if you ask hydrogen suppliers like Hyosung, we complain, hey, there's not enough vehicles out there for us to build more hydrogen stations. So this dilemma really becomes a classic question of which comes first, the chicken or the egg. If you look at the graph in the presentation on the screen, the average loss incurred by a single hydrogen station in 2021 was $76,000. The government covered around 61% of those costs, but that doesn't include the 50% depreciation cost for actually investing in the facilities. The government gives you money, 50% of the money that you need to build a hydrogen station, but they don't provide funding for the other 50%. So that is incurred as a cost to the hydrogen fuel stations. So if you factor in this depreciation cost, the coverage of government subsidy is only around 40%. So, I mean, if you're losing money every year, I mean, I don't think businesses are going to build more hydrogen stations. So the basic rationale behind hydrogen is, as I mentioned, more demand producing more electrolyzers bringing down the cost. But if demand is not picking up as high as we would like, then do you think really the makers of electrolyzers would they be producing more electrolyzers? No. And I think this is where I think the government has to really think about in what volumes do they want to subsidize the hydrogen industry. So definitely government funding is the most important factor between now and 2030 and 40 until the price of hydrogen really becomes affordable to customers. Thank you. Thank you. You assume because on the back of this illustration, very pragmatic and detailed illustration based on the I assume Korean market, it's clear that for the hydrogen it's an entire value chain in order for it to become retail, including up to the cars, a source of affordable energy. It requires a lot of investments and not only subsidies for the end consumers.