South Korea and Australia joined hands to revitalize the hydrogen economy.
According to the Minister of Trade and Energy, South Korea and Australia signed the letter of intent to join forces in a wide scope of areas related to the hydrogen industry.
This project aims to identify and promote mutually beneficial joint projects between Korea and Australia in the hydrogen field. To this end, the two countries plan to develop a concrete action plan for the vitalization of the hydrogen economy by 2030.
This is Korea’s fourth international intention for hydrogen cooperation this year after Norway, Saudi Arabia, and Israel.
Australia, a resource-rich country, has recently focused on the hydrogen economy. In particular, last year it published the Australian Renewable Energy Agency titled “Hydrogen Export Opportunities Report ” and the report focused some of its analysis on Korea as a promising potential partner.