A new Clean Energy Partnership between the UK and the Republic of Korea (RoK) will be agreed tomorrow (Wednesday 22 November) to boost energy security and accelerate the clean energy transition.
The partnership will be signed in London by Energy Security Secretary Claire Coutinho and RoK’s Minister for Trade, Industry and Energy, Bang Moon Kyu. It will see the UK and RoK strengthen cooperation on shared ambitions across the clean energy transition, low carbon technologies, civil nuclear, and domestic climate policies. The new partnership will promote UK-Korea business collaboration, addressing barriers to trade and encouraging mutual development of each other’s energy sectors.
The two countries will also double down on commitments made under the Paris Agreement to limit global warming to 1.5 degrees, to work together to phase out of unabated coal power from energy systems to achieve net zero by 2050.
The partnership comes alongside South Korean businesses injecting more than £10 billion of new investment into the UK, backing renewable energy and infrastructure projects across the country, and supporting more than a thousand highly skilled jobs across the renewables supply chain.
Energy Security Secretary Claire Coutinho said:
“The UK and the Republic of Korea already have a strong relationship on energy security and tackling climate change.
"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 £10bn into the UK economy from South Korean businesses and the thousand skilled jobs that come with that."
The partnership will see both countries commit to:
The clean energy partnership will elevate existing areas of bilateral cooperation on energy between the two countries, in particular building on the UK-RoK Civil Nuclear Dialogue and the previously agreed UK-RoK Offshore Wind Memorandum of Understanding to accelerate offshore wind deployment.
These agreements will advance the Republic of Korea’s transition to clean energy while creating high-value jobs in the UK’s green supply chain.
Already, RoK has a target of 14.3GW of offshore wind by 2030 – with UK companies winning a significant number of RoK offshore wind engineering contracts. Additionally, there are a number of investment commitments from UK and RoK companies, helping to accelerate offshore wind development:
Louise Kingham, Head of Country at BP said:
“BP is delighted to reconfirm our support to developing offshore wind in South Korea, working in partnership with stakeholders to support the country’s energy transition.”
This further investment and closer collaboration follows over three decades of the UK and RoK working together on advancing nuclear power generation, underpinned by the Nuclear Cooperation Agreement made in 1991.
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