S. Korea, Saudi Arabia eye closer ties in clean energy

By Kang Yoon-seung

SEOUL, June 30 (Yonhap) -- South Korea and Saudi Arabia vowed Wednesday to expand ties in the clean energy sector under their joint vision to seek sustainable development through 2030.

Industry Minister Moon Sung-wook met his Saudi counterpart, Khalid Al-Falih, virtually to discuss ways to strengthen the bilateral ties under the Korea-Saudi Vision 2030 Committee platform, according to the Ministry of Trade, Industry and Energy.

The two countries launched the committee in 2017 in line with efforts to broaden their strategic bilateral ties.

During the meeting, Moon said South Korea especially wishes to expand ties with Saudi Arabia in the hydrogen energy sector.

Seoul has been rolling out the so-called hydrogen economy drive, which centers on breaking away from traditional sources of power and instead opt for hydrogen and other renewable energy. It seeks to go carbon neutral by 2050.

The two countries agreed to expand ties in the bio-health sector to cope with the COVID-19 pandemic and promote digital trades as well.

Moon also pointed out that the joint investment project rolled out by South Korea-based Hyundai Heavy Industries Co. and the Saudi Arabian Oil Co. to build the largest shipyard of the Middle Eastern country has set an example for the economic ties between Seoul and Riyadh.

colin@yna.co.kr
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