South Korea is enhancing its clean energy efforts through a new agreement with Western Australia. On Monday, Trade Minister Cheong In-kyo and Western Australian Premier Roger Cook signed a memorandum of understanding (MoU) in Perth. This event marked the 10th anniversary of their bilateral free trade agreement (FTA).
The MoU focuses on expanding cooperation in the clean energy sector and the supply chain for essential minerals. South Korea’s Ministry of Trade, Industry, and Energy highlighted the importance of this deal. Western Australia is rich in critical minerals and has significant solar and wind resources, making it a key partner in clean hydrogen production.
Cheong In-kyo emphasized that this agreement will advance collaboration in several areas, including key minerals, hydrogen, carbon capture, and renewable energy. This partnership aims to address global challenges and strengthen both regions’ roles in the clean energy transition.
During his visit, Cheong also met with Australian Trade Minister Don Farrell to review the progress of their FTA, which began in December 2014. The trade between South Korea and Australia reached $50.6 billion in 2023, marking a 46.8 percent increase from 2013. Cheong noted the need for closer cooperation in supply chains, the clean economy, digital innovation, and defense to tackle global uncertainties.
This MoU reflects a growing trend of international partnerships in clean energy. By working together, South Korea and Western Australia are taking significant steps toward a more sustainable future.
