South Korea, Australia strengthen energy cooperation

South Korea’s Ministry of Knowledge Economy has said that government officials from South Korea and Australia have agreed, at the 25th Korea-Australia Joint Committee on Energy and Mineral Resources Consultation and Cooperation, to expand ties in the energy and natural resources sectors. Both sides agreed to let South Korean companies step up investment in coal, uranium, copper, and zinc projects while increasing the volume of liquefied natural gas (LNG) imported by South Korea from Australia. The two sides also reached an understanding on strengthening tie-ups in clean energy and in long-term joint efforts on establishing “smart grids” to upgrade power transmission networks. (March 16, 2010)