South Korean Ministry of Trade, Industry and Energy said Park Ki-young, 2nd Vice Minister of Trade, and Juan Carlos Jobet, Chile’s Minister of Energy and Minister of Mining, signed ‘Korea-Chile low-carbon hydrogen cooperation MOU’ and decided to strengthen bilateral cooperation on hydrogen energy.
Chile proposed the MOU for hydrogen cooperation through the Chilean Embassy in Korea in February, and requested the MOU on the occasion of the Minister of Energy’s visit to Korea this time.
In November last year, Chile announced its vision to become a clean fuel supplier through ‘National Green Hydrogen Strategy.’ It is currently promoting related policies such as green hydrogen production and utilization expansion, and international cooperation.
Korea is also pushing for various hydrogen energy policies, including hydrogen roadmap, enactment of the Hydrogen Act, launch of the Hydrogen Economic Committee, announcement of the ‘Hydrogen Economy Leading National Vision,’ to establish a hydrogen ecosystem centered on clean hydrogen.
Under the accord, the two countries will exchange technologies related to hydrogen energy cycle from production to storage, transportation, and utilization, and share experiences regarding the hydrogen economy. In addition, they will pursue the development of global industrial and business consortium and expand business opportunities.
The Ministry of Trade, Industry, and Energy expects that the two countries will be able to establish an economic hydrogen supply chain and expand the low-carbon hydrogen market by combining Chile’s renewable energy resources with Korea’s hydrogen technology and distribution experience will be combined.
In particular, Vice Minister Park proposed Chile to participate in the launch of South Korea’s ‘Clean Hydrogen Supply Chain Initiative’.
The two countries also exchanged opinions on strengthening cooperation such as minerals, renewable energy, and energy R&D (Research and Development). Vice Minister Park said he hopes that Korean companies’ participation will increase in the resource industry in Chile, a major supplier of mineral resource, to establish a stable supply chain for core minerals.
Regarding renewable energy, he mentioned that Korea East-West Power and Korea Hydro & Nuclear Power entered Chile’s solar industry. He expects that related case sharing and joint research will increase in the future.
In addition, the two countries expect the clean energy technology innovation to help achieve 2050 carbon neutrality and economic growth, and decided to promote joint development and demonstration projects. (ANI/Global Economic)