Canada and the Republic of Korea have signed a memorandum of understanding (MoU) on cooperation in innovation and energy technologies.
The new MoU demonstrates the cooperative efforts between the Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea and Natural Resources Canada (NRCan) in support of clean energy technologies to enhance energy efficiency, a secure energy supply and reduced greenhouse gas (GHG) emissions in the Republic of Korea and Canada.
It builds on a previous MoU, which was signed 2011 and expired this year.
The previous agreement helped to facilitate work in key technology areas, such as carbon capture and storage, renewable energy, smart grid, combined heat and power and zero emissions vehicles.
Through the agreement, NRCan undertook research and development with the Republic of Korea on building-integrated photovoltaics and thermal energy systems (BIPVT) and hybrid renewable energy technologies.
The new MoU also allows for collaboration in the area of natural resources technologies relating to shale gas and the oil sands.
On November 30, 2015, Canada announced its participation in Mission Innovation along with 19 other countries, including the Republic of Korea. Participating governments have committed to doubling their investments in clean energy research and development over five years and to increasing international collaboration.