The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea held the Korea-Australia Green Economy Partnership Arrangement (EPA) Business Forum (“Forum”) today in Seoul as follow-up to the bilateral Green EPA signed between the two countries’ relevant ministries in December 2024.

Held under the aim of expanding business cooperation in climate, energy, and supply chain areas, today’s Forum seeks to create tangible joint business opportunities in clean hydrogen, CCUS (carbon capture, utilization, and storage), and critical minerals.

The Forum is significant in that it brings together both countries’ major companies to take stock of cooperation progress in clean energy areas, establishing a basis for wider and more concrete collaboration in the future. In view of Korea and Australia serving as central links in the Asia-Pacific region’s clean hydrogen supply chain, the two sides sought joint measures to establish a stable hydrogen supply chain system and reviewed prospects for joint participation in global CCUS projects through the carbon dioxide (CO2) cross-border transport and storage cooperation system developed under the Green EPA. They also discussed measures to promote joint research on ways to diversify critical minerals supply chains and to increase joint investments in clean energy technology development.

Korea’s Minister for Trade Inkyo Cheong expressed anticipation for both countries to generate meaningful outcomes on this occasion in the global clean energy market by capitalizing on the synergy between Korea’s clean energy technology and Australia’s abundance in resources.

Australian Ambassador to the Republic of Korea Jeff Robinson highlighted that the bilateral Green EPA will help the two countries catalyze energy transitions, strengthen supply chains, and boost economic opportunities.

On the margins of today’s Forum, MOTIE plans to continue supporting homegrown companies in their effort to take part in global clean energy projects and other opportunities for overseas cooperation.