S Korea-Australia-energy ties
S. Korea, Western Australia seek stronger ties on energy, key minerals
SEOUL, Sept. 8 (Yonhap) -- South Korea and Western Australia agreed Friday to boost bilateral cooperation on key minerals, clean hydrogen and other energy sectors, Seoul's industry ministry said.
South Korea's Second Vice Industry Minister Kang Kyung-sung and Western Australia's Premier Roger Cook met in Seoul and agreed to sign a memorandum of understanding (MOU) that calls for enhancing bilateral ties on investment and exports of major minerals, clean hydrogen and carbon capture technology, among other fields, according to the Ministry of Trade, Industry and Energy.
The two sides signed a letter of intent on energy ties in January and decided to deepen the cooperation by signing an MOU during their upcoming energy committee meeting to be held in Sydney in around October, it added.
Western Australia is rich in lithium, cobalt, liquefied natural gas and various other kinds of natural resources, and it has great potential in producing clean hydrogen and ammonia based on favorable weather conditions, the ministry said.
South Korea seeks to explore new suppliers of major minerals to reduce its heavy reliance on China.
During the meeting, Kang also asked for Western Australia's support for South Korean companies, such as SK E&S Co., GS Caltex Corp. and Samsung C&T Corp., for their plans to carry out carbon dioxide storage and green hydrogen projects there.
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