TOKYO (ANN/THE YOMIURI SHIMBUN) – Japan and South Korea are set to strengthen economic cooperation in the field of decarbonisation, according to sources in both countries.
The two countries are looking to deepen collaboration to promote the use of hydrogen and ammonia as next-generation energy sources.
Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol are expected to announce the collaboration during the Asia-Pacific Economic Cooperation summit to be held in San Francisco later this week.
Industries in both countries have been working to promote the use of hydrogen and ammonia, which are attracting attention as clean energy sources as they do not emit carbon dioxide when burned. Specifically, the two governments are looking to cooperate in building a stable supply chain, such as by establishing technology to transport the gases by sea and adjusting the supply-demand balance.
The Japan Bank for International Cooperation, a government-affiliated institution, is also considering plans to provide financial support to private companies both in Japan and South Korea.
Kishida and Yoon will hold direct talks during the APEC meeting and will also attend roundtable discussions regarding economic cooperation between the two countries and with the United States.