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Investors - APRIL 10, 2023

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Korean, U.K. leaders announce clean-energy exchange, cooperation efforts

by Kali Persall

Leaders from South Korea and the United Kingdom have announced a joint declaration focused on clean-energy exchange and cooperation.

Lee Chang-yang, minister of Korea's trade, industry and energy, met with Grant Shapps, the United Kingdom’s secretary of state for energy security and net zero, April 10, agreeing on the need for energy transition from fossil fuels to low-carbon power sources. They discussed prospects for South Korea’s participation in the United Kingdom’s new nuclear power plant project and the two countries’ exchange and cooperation in offshore wind power, hydrogen and other clean-energy areas.

“Korea is making multi-faceted policy efforts for energy transition in shifting towards carbon-neutral on the principle of stable power supply,” said Lee. He also noted that Korea “plans to expand renewable energy to appropriate and attainable levels while utilizing nuclear energy, a zero-carbon power source, on the premise of securing stability.”

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