South Korea, Saudi Arabia agree to work together to build hydrogen economy

RIYADH, Saudi Arabia – South Korean President Moon Jae-in met with Saudi Arabia's de facto ruler Crown Prince Mohammed bin Salman on Tuesday and pledged to cooperate in the hydrogen economy.

The two countries signed preliminary agreements to jointly develop green hydrogen, which is produced from renewable energy sources, particularly solar and wind, and to jointly build a hydrogen ecosystem after holding talks at the Al-Yamamah palace in Riyadh, according to Yonhap news agency, citing a statement from Moon's office.

South Korea will be able to obtain carbon-neutral hydrogen and ammonia from Saudi Arabia as a result of the agreements. According to the statement, Seoul can assist Riyadh in operating hydrogen-powered cars and hydrogen fueling stations in exchange. During the meeting, Moon praised Saudi Arabia's "Vision 2030" agenda, which aims to reduce the Arab country's reliance on oil while while growing its public sector.

Moon also stated that the two countries' cooperation has grown to include industries such as hydrogen, defence, intellectual property, and medical, in addition to construction, infrastructure, and energy. Saudi Arabia is South Korea's major Middle Eastern trading partner. The kingdom is also South Korea's largest crude oil supplier. According to the statement, Prince Mohammed bin Salman expressed support for Moon's efforts to bring peace to the Korean Peninsula.

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