Australia and South Korea to finance hydrogen development

Countries will each commit $35mn to collaboration on hydrogen, steel and CCS technologies

Australia and South Korea will each commit A$50mn ($35mn) to a joint project to work on hydrogen and other low-carbon technologies, as well as critical minerals. Australian and Korean firms have already signed a number of memorandums of understanding on developing a hydrogen supply chain, with Australia hoping to export the fuel to South Korea. And the governments of the two countries have already agreed to collaborate on hydrogen technologies as part of a broader pact to develop low greenhouse gas emission technologies. But the new deal represents the first firm financial state commitments towards the collaboration. “We look forward to collaborating on a range of new technologies, with init