South Korea and Czech Republic join hands for energy expansion
The bilateral cooperation reached $4.2b in 2022.
The governments of South Korea and the Czech Republic expanded the scope of bilateral cooperation in trade, investment, clean energy, and EU economic legislation.
With the renewal of their cooperation, both countries assured of stronger growth in their bilateral trade, which accumulated record-setting numbers with $4.2b in 2022. Their proposal for the expansion of its energy transition covers the development of electric vehicles (EVs), hydrogen sources, nuclear energy, and supply chains.
Supplementing that are a number of Korean companies supporting the local Czech market with the production of automobiles, EVs, car parts and steel.
The Carbon Free (CF) Alliance was also discussed with the Czech representatives to prompt a seamless transition to carbon-free energy sources.
The discussion also includes support for South Korea’s bid for the World Expo 2030 in Busan, where they highlight the theme of a sustainable future.