Tuesday, November 19, 2019
Korea Signs LOI on Hydrogen Cooperation with Australia
To Explore Joint Projects in Hydrogen Field
Korea Signs LOI on Hydrogen Cooperation with Australia
  • By Michael Herh
  • September 25, 2019, 10:17
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Chung Seung-il (right), Korean vice minister of trade, industry and energy and Matt Canavan, his Australian counterpart, show a letter of intent (LOI) during a signing ceremony for the Korea-Australia Hydrogen Cooperation Agreement held at the Four Seasons Hotel in Seoul on Sept. 23.

The Korean Ministry of Trade, Industry and Energy (MOTIE) announced on Sept. 23 that it has signed a letter of intent (LOI) with the Australian government on the expansion of hydrogen cooperation between the two countries.

A signing ceremony was held with the attendance of Chung Seung-il, Korea’s vice minister of trade, industry and energy and Matt Canavan, Australian minister for resources and Northern Australia, at the Four Seasons Hotel in Seoul on the day.

“The purpose of this LOI is to discover and develop joint cooperation projects in the hydrogen field,” an MOTIE official explained. “We plan to draw up a specific hydrogen implementation plan by 2030.” The hydrogen implementation plan will include the principles and areas of cooperation, specific action plans and follow-up reviews.

“Korea has world-class technology in the field of hydrogen utilization such as hydrogen car and fuel cell for power generation. Australia has an advantage in the field of hydrogen supply. Thus cooperation between the two countries has great potential.” Chung said. “We will strive to achieve tangible positive results.”