South Korea and the UAE have agreed to joint venture into hydrogen and other sustainable resources in line with their carbon reduction goals.
According to South Korea's Industry Minister Sung Yun-mo, who held a virtual meeting with his UAE counterpart, Sultan Ahmed Al Jaber, the two countries can broaden ties in the green energy segment, including hydrogen.
He added that South Korea is actively rolling out projects in the Green New Deal, one of four pillars of the country's efforts to invest 160 trillion won by 2025 to create 1.9 million jobs and jumpstart the economy.
South Korea plans to achieve carbon neutrality by 2050.
Automobiles running on hydrogen only create water in the process of generating power.
Hydrogen can be produced as a by-product of industrial facilities, such as petrochemical plants.
The UAE is South Korea's 24th-largest export partner in 2020, with outbound shipments to the Middle Eastern country reaching $3.6 billion in 2020, up 5.5 percent from 2019.
South Korea mostly shipped auto parts while importing crude and other petrochemical products from the UAE.


Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 



