The UK and South Korea have today (22 November) signed a partnership aiming to strengthen their cooperation on low-carbon technologies.
Signed in London by the UK’s energy security secretary Claire Coutinho and the Republic of Korea’s minister for trade, industry and energy, Bang Moon Kyu, the partnership aims to address various barriers in the renewables sector.
The agreement will see the two nations collaborate on low-carbon technologies and civil nuclear and domestic climate policies, while also creating opportunities for the countries to bolster technologies that could be vital in the energy transition.
According to a statement released by the UK government, the partnership will see the two countries commit to several aims. This includes:
- Strengthening cooperation on civil nuclear, including on large scale facilities, small scale and advanced reactors, decommissioning and waste management and supply chains.
- Sharing information and lessons learned on offshore wind to support the UK and South Korea’s ambitions, collaborating on barriers to deployment and exploring commercial opportunities through the annual Offshore Wind Policy Dialogue.
- Exploring shared priorities for hydrogen collaboration, building on engagement through existing forums.
- Reinforcing existing cooperation on grids and infrastructure between Korea Electric Power Corporation (KEPCO), Ofgem and The National Grid to enhance existing technical, policy, research and development (R&D) and commercial exchange.
- Enhancing R&D cooperation via the UK-Republic of Korea Science, Technology and Innovation Partnership, and to deepen cooperation via other channels including Mission Innovation.
Around £10 billion of new investment will also be provided to the UK economy via South Korean businesses.
“The UK and the Republic of Korea already have a strong relationship on energy security and tackling climate change,” Coutinho said.
“The new partnership we will sign will see us collaborate even more closely, driving forward shared plans to accelerate clean energy sources, like renewables and nuclear power.
“This will help us make the green transition, while supporting the injection of more than £10 billion into the UK economy from South Korean businesses and the thousand skilled jobs that come with that.”