Strengthening cooperation with the Republic of Korea on climate and energy

Australia and the Republic of Korea (ROK) have signed a new bilateral agreement to step up climate and energy cooperation and build new clean energy industries and trade opportunities.

The Green Economy Partnership Arrangement on Climate and Energy will support Australia and the ROK’s shared objectives to diversify clean energy supply chains and reach net zero by 2050.

The new partnership will boost cooperation in renewable hydrogen, clean energy technologies, green metals and carbon sequestration.

The partnership agreement was signed today by Minister for Climate Change and Energy Chris Bowen and the ROK’s Minister for Trade, Industry and Energy Ahn Dukgeun.

Minister Bowen said the new partnership would open opportunities for Australia’s renewable energy sector and support Australia to become a renewable energy superpower.

“We are committed to remaining a reliable, stable and secure energy supplier to Korea as we work to become a renewable energy superpower and help the world decarbonise,” Minister Bowen said.

“This partnership deepens and expands our bilateral cooperation on hydrogen and green metals as our two nations pursue a shared commitment to reach net zero by 2050.

“A Future Made in Australia is not a future made alone – strengthening cooperation creates new employment and export opportunities for Australian businesses in our cities and our regions.”

As part of the partnership, a new Korea–Australia Joint Ministerial Meeting has been established to strengthen bilateral economic relations and oversee the implementation of the partnership.