S. Korea, IEA to expand cooperation on carbon neutrality

The industry ministry said Tuesday that South Korea has agreed with the International Energy Agency (IEA) to expand cooperation in achieving carbon neutrality to address climate change. The agreement was reached during the visit of Fatih Birol, the chief of the IEA, who visited South Korea to participate in the World Climate Industry Expo, which will run from Wednesday to Friday in the southeastern port city of Busan, according to the Ministry of Trade, Industry and Energy. In a statement, Birol said he supports the South Korean government's efforts to utilize a diverse energy portfolio, including nuclear energy and hydrogen, to reduce carbon emissions. The ministry said that the IEA expressed its support for South Korea's Carbon-Free Energy (CFE) initiative, announced by President Yoon Suk Yeol last year, which focuses on achieving carbon neutrality by harnessing carbon-free energy sources. "We agree that the CFE Initiative is an effective means to accelerate progress towards achieving net zero emission s by 2050," the IEA and the government said in a joint statement. "At a global level, we recognize that leveraging all available carbon-free energy sources from a technology-neutral standpoint offers a valuable opportunity to limit global warming in the near term while also helping to ensure energy security," the statement added. The ministry stated that South Korea will continue to expand cooperation with the IEA through multilateral platforms, including the Asia-Pacific Economic Cooperation and the Clean Energy Ministerial. Source: Yonhap News Agency