Synergy Effects Expected from Korean Technology and Uruguayan Resources
Korea Able to Establish Stable Clean Hydrogen Supply Chain

Both Korea and Uruguay agreed that they would make excellent cooperation partners in the field of clean hydrogen production and utilization.

Park Il-joon, Second Vice Minister of the Ministry of Trade, Industry and Energy, met with Omar Paganini, Minister of Industry, Energy and Mining of Uruguay on the 26th and discussed expanding cooperation in new energy industries including hydrogen.

Vice Minister Park and Minister Paganini agreed that the new energy industry sectors such as clean hydrogen and renewable energy are important as countermeasures to the ongoing climate crisis and energy supply disruptions caused by the Russia-Ukraine conflict.

Both countries also expect that if cooperation is expanded based on Uruguay's abundant resources and Korea's advanced technological capabilities, synergy effects can be achieved in the energy sector.

Uruguay has abundant renewable energy resources such as hydropower and wind power, with renewable energy generation accounting for more than 80% of total power generation.

For this reason, it is possible to produce economical green hydrogen based on renewable energy and establish a stable clean hydrogen supply chain with Korea, and the two countries proposed to discover concrete cooperative projects.

Conversely, Korea possesses advanced technological capabilities and distribution experience in the hydrogen vehicle sector.

It is expected that Korean companies can participate in expanding hydrogen mobility deployment as part of Uruguay's green hydrogen roadmap, thereby contributing to the establishment of Uruguay's hydrogen economy ecosystem.

Additionally, the two countries discussed promoting greenhouse gas reduction through expanded renewable energy deployment and electric vehicle cooperation.

Korea conveyed that it has outstanding Korean companies with abundant experience and technological capabilities in implementing renewable energy distribution policies, and possesses world-class electric vehicle and battery technology and experience in building electric vehicle charging infrastructure, which can facilitate Uruguay's eco-friendly energy production and utilization.

Vice Minister Park requested the Uruguayan government's continued interest and support for inter-company cooperation activities between the two countries in the new energy industry sector.

He further emphasized that through close cooperation between Korea and Uruguay, both countries can achieve carbon neutrality and strengthen energy security, and can secure new economic growth drivers through the creation of new industries.