Canada will transfer its advanced shale gas and oil sand development techniques to Korea. At the same time, Korea and Canada will carry out geological surveys and share research facilities with each other for Arctic development.
President Park Geun-hye, who is currently in Canada, had a summit meeting with Prime Minister Stephen Harper and announced a joint declaration that included such plans on Sept. 22 (local time).
At present, Samsung C&T is working on alternative energy worth US$5 billion in Ontario, while the Korea National Oil Corporation, the Korea Gas Operation, Daewoo Shipbuilding & Marine Engineering, POSCO, the Korea Electric Power Corporation, and many more are seeking investment opportunities for energy resources development.
The President and the Prime Minister, in the meantime, signed the Korea-Canada FTA on the same day and concluded MOUs for mutual cooperation in the fields of shale gas, secondary batteries, micro grid systems, forest management, Arctic development, and other projects.