RIO DE JANEIRO, BRAZIL – South Korea and Chile signed a memorandum of understanding (MoU) in Seoul to expand cooperation in developing the production and use of hydrogen as an alternative to other more polluting sources, the Government of the Asian country reported today.
The South Korean Second Vice Minister of Industry, Park Ki-young, and the Chilean Minister of Energy and Mining, Juan Carlos Jobet, officially signed the document in Seoul.
Read also: Check out our coverage on Chile
According to the South Korean Ministry of Commerce, Industry, and Energy statement, the MoU urges both countries to “exchange technologies for the complete cycle of hydrogen production, storage, transportation, and use”.
According to the text, both countries also agree to promote the development of business opportunities in this area.
“The combination of Korean technologies and experiences and Chile’s renewable energy resources are expected to help establish an economical hydrogen supply network and expand commercial markets for low-carbon hydrogen,” the writing added.
South Korea, which is among the ten largest CO2 emitters globally and is the country within the Organization for Economic Cooperation and Development (OECD) where renewables have the least weight, is promoting a transition policy based on hydrogen to achieve carbon neutrality by 2050.
In turn, Chile is also promoting clean hydrogen production to become a key country in global supply.
Both countries also discussed possible ways to “strengthen cooperation between minerals, renewable energy, and energy R&D.”
“Vice Minister Park expressed his desire that a stable supply of key minerals such as lithium, necessary for secondary batteries and electric vehicle batteries, could be established through a greater participation of Korean private companies in the Chilean mineral resources industry,” said the release.
More: Chile news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error